On May 9, 2023, West Red Lake Gold Mines Ltd. closed a bought deal financing of 70,829,000 subscription receipts, at a price of $0.35 per subscription receipt and 600,000 common shares at a price of $0.35 per common share, for aggregate gross proceeds of approximately $25 million, which includes the exercise of the underwriter’s over-allotment option.
The offering was led by Canaccord Genuity Corp., as sole underwriter.
Cassels acted for Canaccord.