Top Financings of the Week

The Funding Secured team is on-site in Toronto this week for PDAC, the world’s premier mineral exploration and mining convention, and will be delivering real-time updates on all the key developments.

The Recap

The best information on capital raises and financing activity in under 5 minutes:

• West Red Lake Gold (TSXV: WRLG) (OTCQB: WRLGF) announces closing of upsized C$20 million bought deal financing to advance its projects in the Red Lake district of Ontario.

West Red Lake Gold (TSXV: WRLG) (OTCQB: WRLGF) has closed its upsized public offering of 23,628,000 charity flow-through units at a price of C$0.8487 per Charity Flow-Through Unit, raising C$20,053,083.

Notably, the initial bought deal financing was announced for C$12.3 million, but strong investor demand drove a substantial increase in the offering size.

WRLG is a mineral exploration company and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive district in Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits.

WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.

With prominent shareholders that include Fiore Group’s Frank Giustra and a strengthened treasury, WRLG is well-positioned to restart operations, ramp up production, and steadily increase mining and processing rates to 800 tpd in the second half of the year.

“We were happy to welcome significant interest to this financing, which shows support for West Red Lake Gold and highlights demand from investors for companies moving into production in an excellent gold market,” said Shane Williams, President and CEO. “A strong treasury bolsters our abilities at site during ramp up, mitigates potential risks, and supports investor confidence. We look forward to providing ongoing updates from the mine, where underground development and test mining are progressing well.”

After closing the financing on February 25th the Company immediately followed up with drill results from its 100% owned Madsen Mine with intersects of 114.26 g/t Au over 10.6m, 77.90 g/t Au over 3m and 24.48 g/t Au over 8.5m.

Stay tuned for more coverage from PDAC in Toronto.

Top Money Moves

Lead Investors

• Founders Metals: $1,924,000 | Mining | Lead Investor: B2Gold

• Moleculin: $3,500,000 | Biotechnology | Lead Investor: ROTH Capital Partners

• Adocia: $10,511,100 | Biotechnology | Lead Investor: Armistice Capital

• BIOMx: $12,000,000 | Biotechnology | Lead Investor: Deerfield Management

Do you know of any other lead investors who put capital into the markets this week? We would be happy to feature the transactions, send us an email at [email protected]