West Red Lake closes C$25m offering in connection with Madsen buy
Mineral exploration company West Red Lake Gold Mines (WRLG) on Tuesday announced it had closed the bought-deal finance of C$25-million that was announced as part of its acquisition of the Madsen gold mine, in Ontario. The bought deal financing comprised 70 829 000 subscription receipts of West Red Lake, at C$0.35 each, together with 600 000 common shares at the issue price. WRLG is acquiring the Madsen project by buying troubled miner Pure Gold.