West Red Lake Gold Announces Upsize to Previously Announced Private Placement
TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF), is pleased to announce that, due to strong demand, it has agreed with Raymond James Ltd. as lead agent, on behalf of a syndicate of agents (collectively, the “Agents”), to increase the size of its previously announced private placement of units (the “Units”) to US$23,000,000 (the “Offering”) from US$20,000,000. The Agents will have the option to sell up to an additional 15% of the Units offered, exercisable, in whole or in part, at any time up to 48 hours prior to the Closing Date (as defined below) to cover over-allotments, if any.
- TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF), is pleased to announce that, due to strong demand, it has agreed with Raymond James Ltd. as lead agent, on behalf of a syndicate of agents (collectively, the “Agents”), to increase the size of its previously announced private placement of units (the “Units”) to US$23,000,000 (the “Offering”) from US$20,000,000.
- Commencing January 1, 2026, the Company will cause gold to be placed in escrow on a quarterly basis into a gold trust account.
- The Notes will amortize based on a guaranteed floor price of US$1,800 per ounce of gold (the “Floor Price”).
- Any excess proceeds by which the gold price exceeds the Floor Price will be paid to investors as a premium.