Wolfden announces non-brokered flow-through private placement of up to $472,500
Wolfden announces non-brokered flow-through private placement of up to $472,500
THUNDER BAY, ON
,
Jan. 9, 2017
/CNW/ - Wolfden Resources Corporation
(WLF-TSX-V)
(
"Wolfden"
or the
"Company"
) today announces that it intends to
complete a non-brokered private placement (the
"Offering"
) of up to 3,500,000 flow-through units (the
"Flow-Through Units"
) at a price of
$0.135
per Flow-
Through Unit for gross proceeds of up to
$472,500
. Each Flow-Through Unit will consist of one common share of the Company that is a "flow-through share" within
the meaning in the
Income Tax Act
(
Canada
) and one-half of one common share purchase warrant (each whole warrant a
"Warrant"
). Each such Warrant will
entitle the holder to purchase one common share of the Company at a price of
$0.15
per common share for a period of 24 months from the closing date of the
Offering.
The securities to be issued under this Offering will be offered by way of private placement in the provinces of
British Columbia
,
Alberta
and
Ontario
and such other
provinces or territories of
Canada
as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements
under applicable securities laws. Securities issued under the Offering will be subject to a four-month hold period which will expire four months and one day from
the date of closing of the Offering.
Closing of the Offering is anticipated to occur on or about
January 17, 2017
. The Offering is subject to acceptance by the TSX Venture Exchange and other
customary conditions for a transaction of this nature.
The proceeds for the offering will be used for exploration on the Company's projects in
Canada
.
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company exploring the Rice Island and Nickel Island properties in
Manitoba
.
Manitoba
is ranked #6 in
Canada
and #19 in the
world as the most favorable jurisdiction to conduct mining and exploration (Fraser Institute (2015-2016).The Company also holds a dominant, 24,000 hectare land
position in the heart of the Bathurst Mining Camp in
New Brunswick
.
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and
uncertainties regarding future events. Such forward-looking information includes the anticipated completion of the Offering, statements based on current
expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and
include, without limitation, statements relating to the anticipated closing date of the Offering and use of proceeds and statements relating to plans and results of
exploration and the magnitude and quality of the property. There are numerous risks and uncertainties that could cause actual results and the Company's plans
and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and
uncertainties; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral
properties; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry
conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on
estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are
more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in
Canada
at
www.sedar.com
. The Company assumes
no obligation to update any forward looking information or to update the reasons why actual results could differ from such information unless required by applicable
law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
SOURCE
Wolfden Resources Corporation
%SEDAR: 00033002E
For further information:
Donald Hoy, President and CEO, Wolfden Resources Corporation, Tel: (807) 624-1131, Email: [email protected]
CO: Wolfden Resources Corporation
CNW 06:30e 09-JAN-17