William Day Construction Limited and William Day Holdings Announce Filing of Early Warning Report Related to the Acquisition of Common Shares of Wallbridge Mining Company Limited
William Day Construction Limited and William Day Holdings Announce Filing of Early Warning Report Related to the
Acquisition of Common Shares of Wallbridge Mining Company Limited
SUDBURY, ON
,
April 27, 2017
/CNW/ - William Day Construction Limited and William Day Holdings Limited ("
William Day
") today announced that it 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
").
The Acquisition represents approximately 2.1% of the issued and outstanding Common Shares of the Issuer post exercise. Prior to the Acquisition,
William 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 Shares 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-diluted basis, and approximately 15.7% on a partially diluted basis.
William Day
has acquired the Common Shares of the Issuer for investment purposes and
William Day
may, depending on market and other conditions, increase
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.
For further details relating to the Acquisition, please see the Report, a copy of which is available on the Issuer's profile on SEDAR at
www.sedar.com
.
SOURCE
Wallbridge Mining Company Limited
View original content: http://www.newswire.ca/en/releases/archive/April2017/27/c8259.html
%SEDAR: 00010252E
For further information:
Brian Beaton, Secretary and Treasurer, William Day Construction Limited and William Day Holdings Limited, Tel:
705-682-1555
CO: Wallbridge Mining Company Limited
CNW 09:45e 27-APR-17