Woulfe Mining Completes $1.0 Million Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/16/13 -- Woulfe
Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)
(OTCQX:WFEMF) (FRANKFURT:OZ4) is pleased to announce that it has
completed the its non-brokered private placement as announced on
August 23, 2013, placing an aggregate of 10,000,000 units (the
"Units") of the Company at a price of $0.10 per Unit for aggregate
gross proceeds of $1,000,000 ("the " Offering"). The Units were
comprised of one common share of the Company and one common share
purchase warrant (a "Warrant"). Each Warrant is exercisable into one
common share of the Company at a price of $0.12 per share until
September 13, 2016.
The sole subscriber in the Offering was Dundee Corporation, an
insider of the Company.
All securities issued in connection with the Offering will be subject
to a four month hold period expiring on January 14, 2014.
The gross proceeds of the Offerings will be used for general working
The Company expects to provide an update concerning the exercise of
Korea Zinc Co Ltd.'s right to exercise a participation right in
relation to the Offering, as announced on September 9, 2013, mid-late
On Behalf of the Board of Directors
Woulfe Mining Corp.
Hubert Marleau, Interim Chief Executive Officer and Director
About Woulfe Mining Corp "Unearthing Global Assets"
Woulfe Mining Corp is focused on 'Unearthing Global Assets' through
the recognition and development of undervalued natural resource
projects. Woulfe differentiates itself by boasting significant
technical expertise in the design, development and operation of
Our flag ship project is the Sangdong tungsten mine in South Korea.
Woulfe has entered into strategic agreements with International
Metalworking Companies B.V. ('IMC'), part of the Berkshire Hathaway
group of companies. This partnership brings strategic advantage given
Woulfe's mining and processing technical abilities and IMC's
downstream manufacturing skills, high level of innovation and quality
of products sold into the global tungsten market. Woulfe Mining Corp.
is a Canadian TSX-V listed company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements and forward-looking information by their
nature are based on assumptions and involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements or information. We have
made certain assumptions about the forward-looking statements and
information and even though our management believes that the
assumptions made and the expectations represented by such statements
or information are reasonable, there can be no assurance that the
forward-looking statement or information will prove to be accurate.
Furthermore, should one or more of the risks, uncertainties or other
factors materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements or information. These risks, uncertainties
and other factors include, among others, the following: commodity
price volatility; discrepancies between actual and estimated
production, mineral reserves and resources and metallurgical
recoveries; mining operational and development risk; litigation
risks; regulatory restrictions, including environmental regulatory
restrictions and liability; failure to complete the strategic
arrangement described in this release, including because of the
failure to satisfy the conditions to closing of the transaction,
risks of sovereign investment; currency fluctuations; speculative
nature of mineral exploration; global economic climate; dilution;
share price volatility; competition; loss of key employees;
additional funding requirements.
There can be no assurance that forward-looking statements or
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, you should not place undue reliance on the
forward-looking statements or information contained herein. Except as
required by law, we do not expect to update forward-looking
statements and information continually as conditions change and you
are referred to the full discussion of the Company's business
contained in the Company's reports filed with the appropriate
Woulfe Mining Corp
Interim Chief Executive Officer and Director
343 370 1943
Woulfe Mining Corp
+1 604 684 6264
+1 604 684 6242 (FAX)
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