West Red Lake Gold Announces Upsize to Previously Announced Bought Deal Public Offering to $36 Million

Core Viewpoint - West Red Lake Gold Mines Ltd. has announced an increase in its bought-deal financing due to strong investor demand, now issuing 32,632,000 common shares at C$0.95 per share for gross proceeds of C$31,000,400, bringing total gross proceeds to C$36,001,200 including charity-flow through shares [1][2]. Group 1: Financing Details - The company has granted Raymond James an over-allotment option to purchase up to an additional 15% of the aggregate number of common shares at the same issue price, exercisable within 30 days from the closing of the offering [2]. - The offering includes 3,760,000 charity-flow through shares at a price of C$1.33 per share, which remains unchanged [1]. Group 2: Company Overview - West Red Lake Gold Mines Ltd. is focused on gold development and mining, particularly its flagship Madsen Gold Mine and a 47 km² land package in the Red Lake district of Ontario, which is known for its high-grade gold deposits [4]. - The Red Lake Gold District has produced over 30 million ounces of gold and hosts some of the richest gold deposits globally [4].