On November 28, 2023, West Red Lake Gold Mines Ltd. completed a brokered private placement of 29,000,000 units at a price of $0.52 per unit for gross proceeds of approximately $15 million which includes the exercise in full of the agents’ option. The offering was conducted pursuant to the terms and conditions of an agency agreement entered into by West Red Lake Gold Mines, Canaccord Genuity Corp. and Eight Capital.
Each unit was comprised of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder thereof to acquire one common share at a price of $0.68, subject to adjustment in certain events, until November 28, 2026.
Cassels acted for Canaccord.