THUNDER BAY, ON, June 1, 2017 /CNW/ - Wolfden Resources
Corporation (WLF:TSX-V) ("Wolfden" or
the "Company") is pleased to announce that further to
its news release of May 29, 2017 and
due to enhanced interest, it is increasing the size of the
non-brokered private placement (the "Offering") to up to
4,375,000 common shares of the Company that are "flow-through
shares" within the meaning of the Income Tax Act
(Canada) (the "Flow-Through
Shares") at a price of $0.16 per
Flow-Through Share for gross proceeds of up to $700,000. In connection with the Offering, the
Company may pay finder's fees to certain arm's length parties in
accordance with the rules of the TSX Venture Exchange (the
"TSXV") in consideration for their efforts in introducing
subscribers to the Company.
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
June 13, 2017. The Offering is
subject to acceptance by the TSXV and other customary conditions
for a transaction of this nature.
The net proceeds from the Offering will be used for exploration
on the Company's Orvan Brook property in New Brunswick, Canada. Specifically, funding
will enable the undertaking of a drilling program on the property
in order to form the basis for a mineral resource estimate.
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company holding nickel
properties in Manitoba and Zn Pb
Cu base metal properties in New
Brunswick. Manitoba is
ranked #2 in Canada and #2 in the
world as the most favorable jurisdiction to conduct mining and
exploration (Fraser Institute (2016-2017)).
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 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
the timing for the completion of a mineral resource estimate on the
Orvan Brook property, 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 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.
SOURCE Wolfden Resources Corporation