11:04 AM EST, 11/21/2024 (MT Newswires) -- Wallbridge Mining ( WLBMF ) on Thursday said it completed a non-brokered private placement that raised $6.2 million.

The company issued 22.94-million national flow-through shares at $0.08 each and 48.8 million Quebec flow-through shares at $0.09 each.

Concurrently, Agnico Eagle Mines ( AEM ) also subscribed for 8.6 million common shares at $0.07 for additional proceeds of $$0.6 million.

With the proceeds from these financings, Wallbridge expects to have an estimated year end cash balance of $20 million which, based on preliminary budgeting, is sufficient to fund the 2025 exploration program on the Detour-Fenelon property.

Wallbridge was last seen up $0.005 to $0.065 on the Toronto Stock Exchange.

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