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:
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).
