THUNDER BAY, ON, Dec. 29, 2017 /CNW/ - Wolfden Resources
Corporation (WLF:TSX-V) ("Wolfden" or the
"Company") is pleased to announce that it has completed a
non-brokered private placement (the "Offering") of 1,500,000
flow-through units (the "Flow-Through Units") at a price of
$0.45 per Flow-Through Unit for gross
proceeds of $675,000. Each
Flow-Through Unit consists of one common share of the Company that
is a "flow-through share" within the meaning in the Income Tax
Act (Canada) (a
"Flow-Through Unit Share") and one-quarter of one
non-transferrable common share purchase warrant (each whole warrant
a "Warrant"). Each such Warrant entitles the holder to
purchase one common share of the Company at a price of $0.60 per common share until December 29, 2018.
The Flow-Through Unit Shares and the Warrants (including the
underlying common shares) issued under the Offering are subject to
a four-month hold period which will expire on April 30, 2018. The Offering is subject to final
acceptance by the TSX Venture Exchange.
The proceeds from the Offering will be used to fund exploration
at the Company's Canadian mineral exploration projects.
ABOUT WOLFDEN RESOURCES:
About Wolfden Resources:
Wolfden is a mineral exploration company holding nickel
properties in Manitoba and
Zn-Pb-Cu base-metal properties in Maine,
USA and in New Brunswick
(>24,000 hectares). 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 the anticipated
final approval of the Offering, 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 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 the 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