Wolfden will have more than $30 million in their treasury (cad) after this financing is done-
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Wolfden announces $10.125 million financing
Thursday September 18, 9:58 am ET
TORONTO, Sept. 18 /CNW/ - WOLFDEN RESOURCES INC. (TSX: WLF - News) is pleased to announce that it has entered into an agreement with a syndicate of agents co-led by BMO Nesbitt Burns Inc. and Canaccord Capital Corporation in respect of a private placement offering of 2,700,000 Common Shares of Wolfden at a price of $3.75 per Share for aggregate gross proceeds of $10,125,000 in certain provinces of Canada, the United States and other jurisdictions as agreed upon by Wolfden and the agents.
Wolfden plans to use the net proceeds of this offering for the further development of its 100% owned High Lake Property, and for general corporate purposes.
It is contemplated that the offering will close on September 30, 2003 and is subject to certain conditions including, but not limited to, Wolfden being a "qualifying issuer" under Multilateral Instrument 45-102 at closing and the receipt of all necessary regulatory approvals.
WOLFDEN is a Canadian based mineral exploration and development company with a diversified portfolio of advanced stage properties and several ongoing exploration programs in Canada. Wolfden is debt free and has a strong treasury.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This press release is not for distribution to United States newswire
services or for dissemination in the United States. This news release does not
constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
For further information
please contact: Ewan Downie, President, Phone: (807) 346-1668, Fax: (807) 473-1977, e-mail: wolfden@baynet.net, Web Site: www.wolfdenresources.com |
