Wallbridge welcomes Waratah alongside Agnico as largest shareholder
TSX-listed Wallbridge Mining Company has entered into definitive agreements with Agnico Eagle Mines and Waratah Capital Advisors that ensures each entity will hold a 19.9% share in the company, respectively, for a capital injection of C$56-million.
The investors have agreed to acquire such numbers of common shares that will result in each company holding a partially-diluted ownership position, or control or direction over, about 19.9% in the company, respectively.
Agnico will purchase about 243-million shares for C$22.4-million while Waratah, on behalf of funds managed by it, will purchase 364-million shares for C$33.5-million.
“We are delighted to announce these cornerstone investments from our long-time shareholder Agnico and by Waratah, which we welcome as a significant new shareholder in the company.
“In our view, these investments underscore the quality and scale of our flagship asset, Fenelon, in Québec, while providing the capital required to advance it through infill drilling and a prefeasibility study – which we expect to deliver in late 2027 or early 2028,” says Wallbridge CEO Brian Penny.
Penny confirms that the company will in due course seek shareholder approval to complete a 20:1 share consolidation and rename the company to Sunday Lake Gold.
The company intends to complete the fully-funded 2026 exploration programme at Martiniere, Casault, and Grasset, which is already in progress, but will thereafter dedicate the vast majority of its efforts and capital on Fenelon.
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