West Red Lake Gold Mines Ltd (TSE:WRLG) has released an update.
West Red Lake Gold Mines Ltd. has updated the terms of its public offering, increasing the warrant entitlements in its $30 million deal with underwriters, including an over-allotment option. The new terms include one full warrant, instead of a half, per unit without an acceleration feature, with each warrant allowing the purchase of a common share at $1.00 within 24 months. Proceeds will fund the Madsen Gold Mine’s development plan and other corporate expenses.
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