West Red Lake upsizes placement to C$13m
West Red Lake Gold Mine, the owner of the Madsen mine in Ontario, has upsized the recently announced private placement to C$13-million on the back of strong investor demand.
The company amended its agreement with Canaccord Genuity and Eight Capital to increase the size of its “best efforts” private placement to 25-million units at C$0.52 each.
Each unit will consist of one common share and one common share purchase warrant.
West Red Lake will use the proceeds of the offering to advance its mineral properties in Ontario.
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