RED LAKE | Jotup

West Red Lake Gold Announces Revised Terms to Previously Announced Bought Deal Public Offering

Retrieved on:

Thursday, May 9, 2024

Sale, Prospectus, Warrant, Offering, Charity, Income Tax Act, Exercise, TSX Venture Exchange, Security (finance)

TORONTO, May 08, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that it has amended its previous agreement with Raymond James Ltd. as sole bookrunner, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 27,778,000 units (the “Units”) and 11,236,000 charity-flow through units (the “Charity Flow-Through Units”) of the Company at a price of C$0.72 per Unit (the “Unit Issue Price”) and C$0.89 per Charity Flow-Through Unit (the “Charity Flow-Through Issue Price”), respectively, for aggregate gross proceeds to the Company of approximately C$30 million (the “Offering”). The terms of the Offering have been amended to provide for a full Warrant (as defined below) rather than a half Warrant as part of each of the Units and Charity Flow-Through Units and to remove the acceleration feature of the Warrants.

Key Points:

Each Unit will now consist of one common share of the Company (“Common Shares”) and one common share purchase warrant, (a “Warrant”).
Each Warrant will entitle the holder to acquire one common share of the Company for an exercise price of $1.00 per share for 24 months from the Closing Date.
The gross proceeds pursuant to the issuance of the Charity Flow-Through Units will be used to incur qualifying Canadian development expenses on the Company’s assets.
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S.

West Red Lake Announces $30 Million Bought Deal Public Offering of Units

Retrieved on:

Tuesday, May 7, 2024

Sale, Prospectus, RJL, Warrant, Unit, Offering, Acceleration, Charity, TSX Venture Exchange, Security (finance)

VANCOUVER, British Columbia, May 07, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that it has entered into an agreement with Raymond James Ltd. as sole bookrunner, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis, 27,778,000 units (the “Units”) and 11,236,000 charity-flow through units (the “Charity Flow-Through Units”) of the Company at a price of C$0.72 per Unit (the “Unit Issue Price”) and C$0.89 per Charity Flow-Through Unit (the “Charity Flow-Through Issue Price”), respectively, for aggregate gross proceeds to the Company of approximately C$30 million (the “Offering”).

Key Points:

Each Unit will consist of one common share of the Company (“Common Shares”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”).
Each Warrant will entitle the holder to acquire one common share of the Company for an exercise price of $1.00 per share for 24 months from the Closing Date.
The gross proceeds pursuant to the issuance of the Charity Flow-Through Units will be used to incur qualifying Canadian development expenses on the Company’s assets.
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S.

Lac Seul First Nation and Canada settle Flooding Claim

Retrieved on:

Friday, May 3, 2024

United Nations, First Nations, Supreme court, Treaty 3, Federation, Council, Court, Trust, Rights, Supreme, Government, Lac Seul First Nation

LAC SEUL FIRST NATION, TREATY 3 TERRITORY, ON, May 3, 2024 /CNW/ - On March 28, 2024, Lac Seul First Nation concluded a historic settlement agreement with the Government of Canada regarding the First Nation's flooding claim.

Key Points:

LAC SEUL FIRST NATION, TREATY 3 TERRITORY, ON, May 3, 2024 /CNW/ - On March 28, 2024, Lac Seul First Nation concluded a historic settlement agreement with the Government of Canada regarding the First Nation's flooding claim.
The settlement agreement comes after Lac Seul's 2021 landmark victory in the Supreme Court of Canada in Southwind v. Canada, 2021 SCC 28.
The Court concluded that Canada breached its obligation to preserve and protect Lac Seul's interest in the reserve, which included an obligation to negotiate compensation for Lac Seul, given the value of Lac Seul's reserve land to the hydroelectricity project.
Lac Seul First Nation – Obishikokaang – is an Anishinaabe Nation located in Northwest Ontario whose traditional territory stretches from the northeast of Red Lake, all along the shores of the Lac Seul Watershed, down through Minnitaki Lake and east to Sturgeon Lake.

Power Nickel Releases Initial Assay on New Crown Jewel Discovered on its NISK Project

Retrieved on:

Monday, April 15, 2024

USD, Copper, Project, ICP-AES, PGM, Silver, QAQC, Laboratory, News, The Company, GeoVector, Calibration, AG, Gold, Metallurgy, NNE, Consultant, Ant, Palladium, ALS, CRM, Orientation, Lynch, Val-d'Or, Nickel

This will be the King of the Beasts," commented Terry Lynch, Power Nickel CEO.

Key Points:

This will be the King of the Beasts," commented Terry Lynch, Power Nickel CEO.
Power Nickel continues to drill at the Lion Discovery with the deepest target to date as well as at Ant 4.
ALS is a commercial laboratory independent of Power Nickel with no interest in the Project.
Kenneth Williamson, Géo, M.Sc., VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

Discovery Lithium to Acquire Private Lithium Explorer Midex Resources

Retrieved on:

Thursday, March 21, 2024

VANCOUVER, British Columbia, March 21, 2024 (GLOBE NEWSWIRE) -- Discovery Lithium Inc. (CSE: DCLI) (OTCQB: DCLIF) (FRA: Q3Q0) (WKN: A3EFKA) (the “Company,” or “Discovery Lithium”), a Canadian exploration company focused on advancing domestic energy freedom through regional lithium discovery, is pleased to announce that the Company has signed a letter of intent (“LOI”) to acquire a 100% interest in Midex Resources, a Canadian lithium exploration company.

Key Points:

VANCOUVER, British Columbia, March 21, 2024 (GLOBE NEWSWIRE) -- Discovery Lithium Inc. (CSE: DCLI) (OTCQB: DCLIF) (FRA: Q3Q0) (WKN: A3EFKA) (the “Company,” or “Discovery Lithium”), a Canadian exploration company focused on advancing domestic energy freedom through regional lithium discovery, is pleased to announce that the Company has signed a letter of intent (“LOI”) to acquire a 100% interest in Midex Resources, a Canadian lithium exploration company.
Discovery Lithium to acquire 43,000-hectare land position in known li-bearing pegmatite fields with resources within northwestern Ontario.
Midex is led by CEO David Jamieson, who has established a team of experts to build Midex into a leading private exploration company.
Discovery Lithium and Midex expect additional synergies to be created through the proposed Transaction by strengthening both the team and property portfolio of Discovery Lithium.

$1 Million to Benefit Red Lake Reservation Housing Authority Through Federal Home Loan Bank of Des Moines’ Affordable Housing Program

Retrieved on:

Wednesday, March 20, 2024

The Federal Home Loan Bank of Des Moines (FHLB Des Moines) partnered with its member First National Bank Bemidji to award Red Lake Reservation Housing Authority (RLRHA) a $1 million grant to support the construction of nearly 30 new three-bedroom single-family units on the Red Lake Reservation in Minnesota.

Key Points:

The Federal Home Loan Bank of Des Moines (FHLB Des Moines) partnered with its member First National Bank Bemidji to award Red Lake Reservation Housing Authority (RLRHA) a $1 million grant to support the construction of nearly 30 new three-bedroom single-family units on the Red Lake Reservation in Minnesota.
View the full release here: https://www.businesswire.com/news/home/20240320834034/en/
The Federal Home Loan Bank of Des Moines partnered with its member First National Bank Bemidji to award Red Lake Reservation Housing Authority a $1 million grant to support new housing on the Red Lake Reservation in Minnesota.
(Photo: Business Wire)
Red Lake Reservation is owned and occupied entirely by members of the Red Lake Band of Chippewa Indians — the only such reservation in Minnesota.
The proposed project units will be located in four communities on the Red Lake Reservation: Red Lake, Little Rock, Redby and Ponemah.

West Red Lake Gold Announces Upsize to Previously Announced Private Placement

Retrieved on:

Friday, March 1, 2024

Prospectus, TSX Venture Exchange, Floor, Rule, Sale, Regulation D, Warrant, Gold, Agent, Unit, Offering, Security (finance)

TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF), is pleased to announce that, due to strong demand, it has agreed with Raymond James Ltd. as lead agent, on behalf of a syndicate of agents (collectively, the “Agents”), to increase the size of its previously announced private placement of units (the “Units”) to US$23,000,000 (the “Offering”) from US$20,000,000. The Agents will have the option to sell up to an additional 15% of the Units offered, exercisable, in whole or in part, at any time up to 48 hours prior to the Closing Date (as defined below) to cover over-allotments, if any.

Key Points:

TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF), is pleased to announce that, due to strong demand, it has agreed with Raymond James Ltd. as lead agent, on behalf of a syndicate of agents (collectively, the “Agents”), to increase the size of its previously announced private placement of units (the “Units”) to US$23,000,000 (the “Offering”) from US$20,000,000.
Commencing January 1, 2026, the Company will cause gold to be placed in escrow on a quarterly basis into a gold trust account.
The Notes will amortize based on a guaranteed floor price of US$1,800 per ounce of gold (the “Floor Price”).
Any excess proceeds by which the gold price exceeds the Floor Price will be paid to investors as a premium.

West Red Lake Gold Announces a US$20 Million Private Placement of Gold Linked Notes

Retrieved on:

Tuesday, February 27, 2024

Prospectus, TSX Venture Exchange, Floor, Rule, Sale, Regulation D, Warrant, Indian stock exchange, Gold, Agent, Unit, Offering, Security (finance)

TORONTO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF), is pleased to announce that it has entered into an agreement with Raymond James Ltd. to act as sole bookrunner and lead agent, on behalf of a syndicate of agents (together, the “Agents”), in connection with a marketed “best efforts” private placement of units of the Company (each, a “Unit”) at a price of US$1,000 per Unit (the “Offering Price”) for gross proceeds of US$20,000,000 (the “Offering”). The Agents will have the option to sell up to an additional 15% of the Units offered, exercisable, in whole or in part, at any time up to 48 hours prior to the Closing Date (as defined below) to cover over-allotments, if any.

Key Points:

Each Unit will contain gold-linked notes in the aggregate principal amount of US$1,000 (the “Notes”) and 710 common share purchase warrants (the “Warrants”).
Commencing January 1, 2026, the Company will cause gold to be placed in escrow on a quarterly basis into a gold trust account.
The Notes will amortize based on a guaranteed floor price of US$1,800 per ounce of gold (the “Floor Price”).
Any excess proceeds by which the gold price exceeds the Floor Price will be paid to investors as a premium.

Number of Ontario hospital emergency closures soars to new record: Health Coalition demands Ford government finally take action

Retrieved on:

Tuesday, December 5, 2023

Now, the Coalition found that the number of emergency department closures has increased even more.

Key Points:

Now, the Coalition found that the number of emergency department closures has increased even more.
The town of Durham in Western Ontario has had at least 51 emergency department closures in 2023 to date.
“It is indisputable that these closures are endangering the health of Ontario residents,” warned Natalie Mehra, executive director of the Ontario Health Coalition.
The Health Coalition demanded the Ford government take real action to address the crisis.

First Mining Discovers New High-Grade Gold Occurrences at its Birch-Uchi Greenstone Belt Project

Retrieved on:

Tuesday, December 5, 2023

National instrument, Rice, IP, Mining, Challenger, Technical report, Inference, Gold, BUGB, Consultant, Data collection, 3D, Soil, Strike, News, Saddle

The dominant sulphide mineralization is composed of pyrite and occurs as very fine-grained disseminations averaging an abundance of 1-5%.

Key Points:

The dominant sulphide mineralization is composed of pyrite and occurs as very fine-grained disseminations averaging an abundance of 1-5%.
Mineralization appears to occur within geophysical resistivity low signatures interpreted to be large-scale folding within the clastic sedimentary lithology (Figure 2).
The 2023 field results indicate that a high-grade mineralized structure exists along meaningful strike length and therefore warrants follow-up exploration.
We continue to demonstrate a growing exploration story in the renowned Red Lake Mining District that is proven to host large-scale, high value gold deposits," stated James Maxwell, VP Exploration at First Mining.