- West Red Lake Gold Mines (WRLG) closes $25,000,150 bought deal offering in connection with acquisition of Madsen Gold Mine
- Bought at $0.35 per subscription receipt the sale also included 600,000 common shares
- The offering is tied to another acquisition where it will acquire the Madsen Gold Project
- Last month the company welcomed Derek Teevan and Maurice Mostert to the team
- West Red Lake Gold Mines (WRLG) shares is down 5 per cent, trading at C$0.76 at 10:01 am EST
West Red Lake Gold Mines (WRLG) closes a previously announced bought deal financing of 70,829,000 subscription receipts of West Red Lake.
Bought at $0.35 per subscription receipt the sale also included 600,000 common shares of West Red Lake at the issue price.
The offering is tied to another acquisition where it will acquire the Madsen Gold Project.
Last month the company welcomed Derek Teevan as Vice President of Community Relations and Maurice Mostert as Vice President of Technical Services.
Teevan has been involved with building diamond to gold mines, overseeing over two billion in capital projects.
While Mostert has over 20 years of experience in consulting and business leadership combined with a background in underground mining.
Tom Meredith, CEO, spoke to the appointments adding, “We are very fortunate to have attracted this level of talent. Not only does it serve as a testament to the quality of our assets, but it is also a glowing endorsement of the future vision for the company.”
“Derek and Maurice’s contributions will be instrumental in the growth of West Red Lake Gold,” added Meredith.
The company is a mineral exploration company creating value by discovering new gold mines in the Red Lake Gold District of Northwest Ontario, Canada.
West Red Lake Gold Mines (WRLG) is down 5 per cent, trading at C$0.76 at 10:01 am EST.