Wolfden Completes $4M Financing
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Wolfden Completes $4M Financing
Thunder Bay, Ontario, March 30, 2021 - Wolfden Resources Corporation (WLF.V) (“Wolfden” or the “Company”) is
pleased announce that it has completed an upsized and oversubscribed non-brokered private placement financing of
12,725,000 units at a price of C$0.32 per unit for gross proceeds of $4.07 million (the "Offering"). Each unit is comprised
one common share of the Company and one half of a common share purchase warrant. Each whole purchase warrant
can be converted in one common share of the Company at a price of $0.45 for two years , subject to acceleration in
certain circumstances.
“With these additional funds, we plan to more aggressively explore and expand through drilling our strategic metal project
portfolio,” said Ron Little, President and CEO of the Company. “Drilling is underway at our Pickett Mt. project in Maine
as we wait for assay results for our recently completed drill program in Manitoba on our Nickel-Copper-Cobalt Rice Island
Project. Planning is underway for additional exploration and drill programs on our silver projects in Maine and New
Brunswick.”
The majority of the proceeds from the Offering will be used to continue exploration at the Company’s 100%-owned
Pickett Mountain high-grade polymetallic deposit in Maine. Some of the funds will also be used for the exploration of its
recently optioned Big Silver Project in Maine.
The securities issued pursuant to the Offering are subject to a four-month hold period until July 31, 2021 under applicable
Canadian securities laws.
About Wolfden
Wolfden is a n exploration and development compan y focused high-margin deposits in good jurisdictions. Its wholly
owned Pickett Mountain Project is one of the highest-grade polymetallic projects in North America (Zn, Pb, Cu, Ag, Au).
This relatively advanced project is well -located near excellent infrastructure that will support straight forward
development as detailed in a Preliminary Economic Assessment date September 14, 2020.
For further information please contact Ron L ittle, President & CEO, at (807) 624 -1136 or Rahim Lakha, Corporate
Development at (416) 414-9954.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward -looking information (within the meaning of applicable Canadia n securities legislation) that
involves various risks and uncertainties regarding future events. Such forward -looking information includes 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 completion of the Offering, the use of
proceeds of the Offering, metal price assumptions, cash flow forecasts, projected capital and operating costs, metal or mineral
recoveries, mine life and production rates, and other assumptions used in Preliminary Economic Assessment dated September 14,
2020, information about future activities at the Pickett Mountain Project that include plans to complete additional drilling and pre -
permitting (rezoning petition), the results of the Preliminary Economic Assessment dated September 14, 2020, the potential upside
of the Pickett Mt. Project, and the timing and commencement of future drill programs in Maine, Manitoba and New Brunswick. There
are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materia lly
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 materiall y 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 file d 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 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 release.