$WM.TO

Wallbridge Mining Raises $56 Million Via Private Placement

Wallbridge Mining(WM.TO) on Friday said closed a private placement of shares to Agnico Eagle Mines (AEM.TO, AEM) and Waratah Capital Advisors,, raising $56 million.Agnico Eagle purchased 243.9-million shares priced at $0.092. for $22.4 million and Waratah, on behalf of managed investment funds, purchased 364.3-million shares for about $33.5 million. Each of Agnico Eagle and Waratah has a partially-diluted ownership position of, or control or direction over, about 19.9% of the common shares of the company upon closing.Proceeds will be used to fund completion of a pre-feasibility study on the Fenelon project. The company intends to complete the 2026 exploration program at Martiniere, Casault, and Grasset, which is already in progress, but will focus on Fenelon, it added.Shares of the company were last seen up $0.005 $0.105 on the Toronto Stock Exchange.

TSX up 443 Points Led by Miners; Energy, The Sole Decliner

The Toronto Stock Exchange surged 443 points, or 1.3%, at midday, recovering some of this week's losses.Miners, up 2.6%, is the best performer, followed by info tech and financials, both up 1.6%.Energy, down 1.6%, is the sole decliner, as oil and natural gas prices edge down.In company news, Keyera (KEY.TO) is proceeding with the construction of a rail hub in Alberta. Keyera will build and own the Alberta Corridor Export Rail Terminal, and has set aside an initial $240 million for the project, including a $100 million incremental to Keyera's 2026 growth capital guidance. The project will be underpinned by long term commercial arrangements with CN Rail (CN.TO) and AltaGas (ALA.TO).Wallbridge Mining (WM.TO) jumped 40% to $0.105 and is the most actively traded on the TSX with over 13 million shares changing hands after Agnico Eagle (AEM.TO) agreed to purchase 243.9-million Wallbridge shares for $22.4 million. The private placement is expected to close on May 22.

Wallbridge Mining to Raise C$56 Million in Investments from Agnico Eagle, Waratah

Wallbridge Mining Company (WM.TO) has entered into agreements to sell common shares to Agnico Eagle and Waratah Capital Advisors for about C$56.0 million, the company said on Wednesday.Agnico Eagle has agreed to purchase 243.9 million Wallbridge common shares for gross proceeds of C$22.4 million, which, together with Agnico Eagle's existing ownership position of common shares and common share purchase warrants, will result in a partially-diluted ownership interest of 19.9%.Waratah has agreed to purchase 364.3 million Wallbridge common shares for gross proceeds of C$33.5 million, which will result in the Waratah funds having an aggregate pro forma ownership interest of 19.9%.Strategic investments will be made at a price of $0.092 per common share, representing a premium of 15% to Wallbridge's 20-day volume-weighted average price on the Toronto Stock Exchange.The net proceeds of the offering is expected to help fund completion of a pre-feasibility study on the Fenelon project."In our view, these investments underscore the quality and scale of our flagship asset, Fenelon, while providing the capital required to advance it through infill drilling and a pre-feasibility study, which we expect to deliver in late 2027 or early 2028," said Brian Penny, Chief Executive Officer of Wallbridge.The company also plans to seek shareholder approval to complete a 20:1 share consolidation and a renaming of the company to Sunday Lake Gold.

Wallbridge to Advance Fenelon to Pre-Feasibility Study with Strategic Investments from Agnico Eagle and Waratah for Near C$56 Million