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VANCOUVER, British Columbia, Sept. 16, 2025 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that as a result of strong investor demand, it has entered into an agreement with Raymond James Ltd. (“Raymond James”), as sole underwriter, to increase the size of its previously announced bought-deal financing. West Red Lake will now issue 32,632,000 common shares of the Company (“Common Shares”) at a price of C$0.95 per Common Share (the “Common Share Issue Price”) for gross proceeds of C$31,000,400 (the “Offering”). The offering of 3,760,000 charity-flow through shares (the “Charity Flow-Through Shares”) at a price of C$1.33 per Charity Flow-Through Share remains unchanged. In aggregate, gross proceeds will now be $36,001,200.
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The Company has agreed to grant Raymond James an over-allotment option to purchase up to an additional 15% of the aggregate number of Common Shares at the Common Share Issue Price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the Offering.
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In all other respects, the terms of the Offering including the use of proceeds therefrom, will remain as previously disclosed in the original press release dated September 15, 2025.
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The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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About West Red Lake Gold Mines
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West Red Lake Gold Mines Ltd. is a gold development and mining company that is publicly traded and focused on its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.
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On behalf of West Red Lake Gold Mines Ltd.
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“Shane Williams”
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Shane Williams
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President & Chief Executive Officer
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FOR FURTHER INFORMATION, PLEASE CONTACT:
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Gwen Preston
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Vice President Communications
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Tel: (604) 609-6132
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Neither the 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.
English (US)