Wallbridge Announces Eric Sprott Purchases Additional Shares
Wallbridge Announces Eric Sprott
Purchases Additional Shares
TORONTO, Oct. 1, 2018 /CNW/ - Wallbridge Mining Company
Limited (TSX:WM) (FWB: WC7) ("Wallbridge" or the "Company")
announces that it has been informed that Eric Sprott has purchased
24,042,895 common shares of Wallbridge by way of a private
agreement.
"We are pleased to see the increased level of interest in our company
as evidenced by the trading volume over the last few weeks. We are
also encouraged by Mr. Sprott's support, believing in our company
and our Fenelon Gold Property," stated Marz Kord, President & CEO
of Wallbridge. "We continue with our successful exploration and
development plans at Fenelon Gold Property in order to expand the
resource and move the project ahead into production".
In his filings Mr. Sprott stated:
As of the date hereof, after giving effect to this common share
purchase from Lonmin Plc, Mr. Sprott beneficially owns and controls
57,376,229 Common Shares and 16,666,667 share purchase
warrants of Wallbridge, representing approximately 16.1% of the
issued and outstanding Common Shares on a non-diluted basis, and
approximately 19.9% on a partially diluted basis, assuming exercise of
share purchase warrants. Prior to the date hereof, Mr. Sprott
beneficially owned and controlled 33,333,334 Common Shares and
16,666,667 Warrants of Wallbridge, representing approximately 9.4%
of the issued and outstanding Common Shares on a non-diluted basis,
and approximately 13.4% on a partially diluted basis.
Mr. Sprott has a long-term view of the investment and may acquire
additional securities of the Company either on the open market or
through private acquisitions or sell securities of the Company either on
the open market or through private dispositions in the future
depending on market conditions, reformulation of plans and/or other
relevant factors. A copy of 2176423 Ontario Ltd.'s early warning report
will appear on the Company's profile on SEDAR and may also be
obtained by calling (416) 362-7172 (200 Bay Street, Suite 2600, Royal
Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will support
sustainable production and revenue as well as organic growth through
exploration and scalability.
Wallbridge is currently developing its 100%-owned high-grade
Fenelon Gold property in Quebec with ongoing exploration and a bulk
sample in 2018. Wallbridge is also pursuing other additional
advanced-stage projects which would add to the Company's near term
project pipeline. These discussions benefit from the operating
capabilities Wallbridge demonstrated by safely and efficiently mining
the Broken Hammer deposit in Sudbury, which was completed in
October 2015. Wallbridge is also continuing partner-funded
exploration on its large portfolio of nickel, copper, and PGM projects in
Sudbury, Ontario, with a focus on its high-grade Parkin project.
Wallbridge also has exposure to exploration for copper and gold in
Jamaica and British Columbia through its 11.3% ownership of Carube
Copper Corp. (CUC:TSX-V, formerly Miocene Resources Limited, a
Wallbridge spin-out of its BC assets).
This press release may contain forward-looking statements
(including "forward-looking information" within the meaning of
applicable Canadian securities legislation and "forward-looking
statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995) relating to, among other things,
the operations of Wallbridge and the environment in which it
operates. Generally, forward-looking statements can be identified
by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved".
Wallbridge has relied on a number of assumptions and estimates
in making such forward-looking statements, including, without
limitation, the costs associated with the development and
operation of its properties. Such assumptions and estimates are
made in light of the trends and conditions that are considered to
be relevant and reasonable based on information available and
the circumstances existing at this time. A number of risk factors
may cause actual results, level of activity, performance or
outcomes of such exploration and/or mine development to be
materially different from those expressed or implied by such
forward-looking statements including, without limitation, whether
such discoveries will result in commercially viable quantities of
such mineralized materials, the possibility of changes to project
parameters as plans continue to be refined, the ability to execute
planned exploration and future drilling programs, the need for
additional funding to continue exploration and development
efforts, changes in general economic, market and business
conditions, and those other risks set forth in Wallbridge's most
recent annual information form under the heading "Risk Factors"
and in its other public filings. Forward-looking statements are not
guarantees of future performance and such information is
inherently subject to known and unknown risks, uncertainties
and other factors that are difficult to predict and may be beyond
the control of Wallbridge. Although Wallbridge has attempted to
identify important risks and factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other
factors and risks that cause actions, events or results not to be
as anticipated, estimated or intended. Consequently, undue
reliance should not be placed on such forward-looking
statements. In addition, all forward-looking statements in this
press release are given as of the date hereof.
Wallbridge disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of
new information, future events or otherwise, save and except as
may be required by applicable securities laws. The forward-
looking statements contained herein are expressly qualified by
this disclaimer.
SOURCE Wallbridge Mining Company Limited
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For further information: Please visit the Company's website at
www.wallbridgemining.com or contact: Wallbridge Mining Company
Limited, Marz Kord, P. Eng., M. Sc., MBA, President & CEO, Tel:
(705) 682-9297 ext. 251, Email: [email protected]; David
Ellis, Investor Relations, Tel: (416) 704-0937, Email:
CO: Wallbridge Mining Company Limited
CNW 09:19e 01-OCT-18