Woulfe Mining Corp.(TSXV:WOF) announced a new private placement for gross proceeds of $5 million. Woulfe has granted Dundee an option for an additional 15% of the Brokered offering. The Company plans on using the gross proceeds of the offering for operations on its South Korea properties.
As quoted in the press release:
The Company has agreed to pay Dundee a commission of 5.0% of the gross proceeds from the sale of the Units forming the Brokered Offering and to issue warrants (“Agent’s Warrants”) equal to 5.0% of the number of Units issued in the Brokered Offering. Each Agent’s Warrant will entitle the holder, on exercise, to purchase one Unit of the Company at a price of $0.20 for a period of 24 months from the completion of the Brokered Offering.