Wallbridge Announces Full Exercise of April 2016 Warrants
Wallbridge Announces Full Exercise of April 2016 Warrants
TORONTO, April 27, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7 ) (the
"Wallbridge ") today announced that all of the holders of the A pril 2016 private placement warrants
including William Day Construction Limited and Will iam Day Holdings Limited (" William Day ") have
exercised their warrants. William Day has filed an early warning report (" Report ") announcing that, on
April 27, 2017, it acquired 5,000,000 common shares (" Common Shares ") of Wallbridge Mining
Company Limited (" Wallbridge " or the " Issuer ") through the exercise of warrants (the " Warrants ") at an
exercise price of $0.08 per Warrant for total consideration of $400,000 (the " Acquisition "). In addition to
the exercise by William Day, all of the remaining 850,000 warrants issued in the April 29, 2016 private
placement, will be exercised for additional consideration of $68,000.
"Wallbridge has shown its ability to successfully explore and effectively mine, and we are confident t his
success will continue at the Fenelon gold project and at its Sudbury properties," said Shawn Day, General
Manager of William Day.
"We are very pleased that William Day and all other Warrant holders chose to fully exercise their
Warrants," said Wallbridge President and CEO Marz K ord. "As one of Wallbridge's major shareholders,
William Day has consistently supported our growth plans and we fully expect this positive relationship will
continue in the future."
The Acquisition represents approximately 2.1% of th e issued and outstanding Common Shares of the
Issuer post exercise. Prior to the Acquisition, Wil liam Day owned 21,722,050 Common Shares of the
Issuer representing approximately 9.5% of the issued and outstanding Common Shares of the Issuer. In
addition, William Day owns 11,722,050 additional Common Share purchase warrants (the " 2019
Warrants ") to purchase an aggregate of 11,722,050 Common Sh ares of the Issuer. A total of 7,025,050
of the 2019 Warrants are exerciseable at $0.10 until August 19, 2019 and 4,697,000 of the 2019
Warrants are exerciseable at $0.12 until October 4, 2019. Following the Acquisition, William Day owns
26,722,050 Common Shares of the Issuer representing approximately 11.5% of the issued and
outstanding Common Shares of the Issuer on a non-di luted basis, and approximately 15.7% on a partially
diluted basis.
William Day has acquired the Common Shares of the I ssuer for investment purposes and William Day
may, depending on market and other conditions, incr ease or decrease its beneficial ownership, control or
direction over the Common Shares or other securities of the Issuer, through market transactions, private
agreements, treasury issuances, exercise of convertible securities or otherwise.
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 preparing to develop its 100%-owned high-grade gold Fenelon Gold property in
Quebec with exploration underway and a bulk sample and production decision targeted for 2017.
Wallbridge is also in discussions regarding several other advanced stage projects which could become
the Company's next mines. 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 active partner-funded exploration on its large portfolio of nickel, copper, and
PGM projects in Sudbury, Ontario. Currently, Wallbr idge is completing a 20,000 metre fully partner-
funded drilling program on its high-grade Parkin nickel-copper-PGM project.
Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia
through its 13% ownership of Carube Copper Corp. (" Carube Copper") (CUC:TSX-V, formerly Miocene
Resources Limited).
This press release may contain forward-looking stat ements (including "forward-looking
information" within the meaning of applicable Canad ian 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 expect ed", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or statements that certain action s, 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-lo oking statements, including, without
limitation, the costs associated with the developme nt 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 res ults, level of activity, performance or
outcomes of such exploration and/or mine developmen t to be materially different from those
expressed or implied by such forward-looking statem ents including, without limitation, whether
such discoveries will result in commercially viable quantities of such mineralized materials, the
possibility of changes to project parameters as pla ns continue to be refined, the ability to execute
planned exploration and future drilling programs, t he need for additional funding to continue
exploration and development efforts, changes in gen eral 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 p ublic filings. Forward-looking statements are
not guarantees of future performance and such infor mation 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 fact ors 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 ad dition, 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. T he 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, Joshua Bailey, M.Sc., P.Geo, Vice President
Exploration, Tel: (705) 682-9297 ext. 240, Email: [email protected]; Linda Zubal, Vice
President Corporate Communications, Tel: (705) 682- 9297 ext. 263, Email:
CO: Wallbridge Mining Company Limited
CNW 09:45e 27-APR-17