Wallbridge Mining Company Limited’s C$20 Million Bought Deal Financing

Torys LLP represented the syndicate of underwriters led by BMO Capital Markets.

On April 15, 2021, Wallbridge Mining Company Limited announced the completion the previously announced bought deal public offering through the issuance of an aggregate of 21,063,400 charity flow-through common shares at a price of C$0.95 per share for gross proceeds of C$20,010,230, inclusive of the full exercise of the over-allotment option by the underwriters to acquire an additional 2,747,400 charity flow-through common shares at the offering price.

The shares were issued and sold pursuant to the terms of an underwriting agreement dated March 31, 2021, with BMO Capital Markets, as lead underwriter and sole bookrunner, RBC Capital Markets, Cormark Securities Inc., Eight Capital and Paradigm Capital Inc.

Gross proceeds from the sale of shares will be used to support the company’s 170,000 m drill program in 2021 at the Fenelon project. 

Wallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property, which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern Québec. Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately-held company with a portfolio of nickel, copper, and platinum-group metals (PGM) projects in Ontario’s Sudbury Basin.

Torys represented the syndicate of underwriters with a team that included Janan Paskaran (Picture), Lianne Tysowski and Cassondra Lozynsky (corporate/securities) and Craig Maurice (tax).

Involved fees earner: Cassondra Lozynsky – Torys LLP; Craig Maurice – Torys LLP; Janan Paskaran – Torys LLP; Lianne Tysowski – Torys LLP;

Law Firms: Torys LLP;

Clients: BMO Capital Markets; Cormark Securities Inc.; Eight Capital Inc.; Paradigm Capital Inc.; RBC Capital Markets;

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Martina Bellini

Author: Martina Bellini