By Sheri Kasprzak
New York, April 12 - Wallbridge Mining Co. Ltd. has concluded a C$1,838,965 private placement on behalf of its subsidiary Wallbridge America Ltd.
Wallbridge America has also changed its name to Duluth Metals Ltd.
The company sold 6,129,883 units at C$0.30 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.40 each through June 30, 2007.
Proceeds from the deal will be used to finance drilling at Duluth's Maturi Extension property.
Headquartered in Toronto, Wallbridge is a mineral exploration company.
| Issuer: | Wallbridge America Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,838,965
|
| Units: | 6,129,883
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 30, 2007
|
| Warrant strike price: | C$0.40
|
| Placement agent: | Non-brokered
|
| Settlement date: | April 12
|
| Stock symbol: | Toronto: WM
|
| Stock price: | C$0.33 at close April 11
|
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