January 16, 2015, Toronto, Ontario, West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (FWB: HYK) (OTC: HYLKF) announces an increase in its non-brokered private placement financing previously announced on January 7, 2015. An additional 1,100,000 common share units (the “Common Share Units) were issued which increased aggregated gross proceeds to $445,840.
The Common Share Units were issued at a price of $0.05 per Common Share Unit with each Common Share Unit consisting of one common share in the capital of the Company and one common share purchase warrant (the “Warrant”). Each Warrant issued in connection with the Common Share Units entitles its holder to purchase one common share in the capital of the Company at an exercise price of $0.10 per share for a period of 18 months from the date of issuance. Proceeds from the Common Share Units will be used for general corporate purposes.
For additional information, please contact: John Kontak, President, Phone: 416-203-9181