TORONTO, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM) (OTCQB:WLBMF) ("Wallbridge" or the "Company") is pleased to announce that it has entered into an agreement with BMO Capital Markets, as sole bookrunner, on behalf of a syndicate of agents (collectively, the "Agents"), in connection with a best efforts, public offering of Charity Flow-Through Units (the "Charity Flow-Through Units") and Hard Dollar Units (the "Hard Dollar Units") of the Company for aggregate gross proceeds of up to approximately C$15 million (the "Offering").
The Offering will consist of a combination of (i) 65,000,000 Charity Flow-Through Units, at a price of C$0.15 per Charity Flow-Through Unit for gross proceeds of up to approximately C$10 million, each Charity Flow-Through Unit will consist of one common share issued on a flow-through basis (the "FT Share") of the Company and one common share purchase warrant (each common share purchase warrant, a "Warrant"); and (ii) 45,000,000 Hard Dollar Units, at a price of C$0.11 per Hard Dollar Unit, each Hard Dollar Unit will consist of one common share ("Hard Dollar Share") of the Company and one Warrant for gross proceeds of up to approximately C$5 million. The FT Shares and Warrants underlying the Charity Flow-Through Units shall qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)).
Each Warrant issuable under the Offering will entitle the holder to purchase one Common Share of the Company at an exercise price of C$0.15 for a period of 36 months following the closing date.
The Company has granted the Agents an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any.
The net proceeds from the Charity Flow-Through Units and Hard Dollar Units will be used for continued advancement of the Company's Fenelon and Martiniere projects, and for general corporate purposes.
In connection with the offering, the Company intends to notify Agnico Eagle Mines Limited of its right to participate pursuant to the participation agreement dated December 6, 2019.
The offering is expected to close on or about October 31, 2025 and is subject to Wallbridge receiving all necessary regulatory approvals.
The Charity Flow-Through Units and Hard Dollar Units will be offered by way ...
