West Red Lake Gold Announces Revised Terms to Previously Announced Bought Deal Public Offering

TORONTO, May 08, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that it has amended its previous agreement with Raymond James Ltd. as sole bookrunner, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 27,778,000 units (the “Units”) and 11,236,000 charity-flow through units (the “Charity Flow-Through Units”) of the Company at a price of C$0.72 per Unit (the “Unit Issue Price”) and C$0.89 per Charity Flow-Through Unit (the “Charity Flow-Through Issue Price”), respectively, for aggregate gross proceeds to the Company of approximately C$30 million (the “Offering”). The terms of the Offering have been amended to provide for a full Warrant (as defined below) rather than a half Warrant as part of each of the Units and Charity Flow-Through Units and to remove the acceleration feature of the Warrants. Read More