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Private Placement: Wolfden Resources (TSXV:WLF)

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The company is looking to raise gross proceeds of up to $600,000 from the placement of up to 1.5 million flow-through shares priced at $0.40 per share.

Additional Information:

Company: Wolfden Resources
Website: http://www.WolfdenResources.com
Stock Symbol: TSXV: WLF
Date Published: Feb 8, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Wolfden Resources has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $600,000 from the placement of up to 1.5 million flow-through shares priced at $0.40 per share.

The shares are currently trading at $0.31.

Proceeds from the offering will be used for exploration on the company’s nickel projects in Manitoba and its silver rich polymetallic projects in New Brunswick.

The approximately 16,000-hectare Tetagouche property is located in the heart of the Bathurst Mining Camp in northeastern New Brunswick.

The property contains 6 historic lead-zinc-copper-silver massive sulphide deposits, non 43-101 compliant, with excellent exploration upside.

The company also owns a 100% interest in the 6800 acre Pickett Mountain Project in Maine, USA, one of the highest grade undeveloped VMS deposits in North America.

The deposit is situated 85 km west of the New Brunswick, Canada border near excellent infrastructure that includes a state highway, power line and railway siding that will support straight forward development as outlined in a Preliminary Economic Assessment released in September 2020.

When the PEA was released, Ron Little, President and CEO, stated: “The PEA underscores our belief that the solid economics of the Pickett Mt. Project and its resource are still largely unrecognized by investors and not reflected in the current market capitalization of the company. With base metal prices moving higher, these results reaffirm our commitment to increase and upgrade the mineral resources through aggressive exploration and to further de-risk the project with our ongoing pre-permitting efforts and additional technical and baseline studies.”

Excellent potential also exists to enlarge the known deposit and to discover additional satellite deposits both nearby and along the 25 kilometre belt of favourable rocks that host the deposit.

In January, the company secured $2 million in financing with strategic partners Kinross and Altius.

For more information, please visit the company’s website at www.WolfdenResources.com, contact Ron Little, President and CEO, at 807-624-1136 or Rahim Lakha, Corporate Development, at 416-414-9954.

I’m Megan Edwards for Investmentpitch Media