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West Red Lake announces C$30m bought-deal offering

8th May 2024

By: Creamer Media Reporter

     

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West Red Lake, the owners of the Madsen gold mine in Ontario, has announced a C$30-million bought deal public offering of units.

The TSX-V-listed firm entered into an agreement with Raymond James as sole bookrunner to purchase 27.78-million units and 11.24-million charity flow-through units, at C$0.72 per unit and C0.89 per charity flow-through unit.

The net proceeds will be used to advance the development of a restart plan for the Madsen gold mine, as well as for working capital and general corporate purposes.

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Edited by Creamer Media Reporter

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