Wallbridge Mining Lines Up C$56 Million Investment From Agnico Eagle, Waratah Capital Advisors
By Robb M. Stewart
Wallbridge Mining will receive a roughly 56 million Canadian dollars (US$41 million) capital injection from gold producer Agnico Eagle and Waratah Capital Advisors that will help fund a prefeasibility study on its flagship Fenelon asset in Quebec's Abitibi region.
Agnico Eagle and Waratah will buy shares of the exploration company, giving each investor a roughly 19.9% stake.
Wallbridge said it next plans to seek approval from its shareholders for a 20-for-one share consolidation and a renaming of the company to Sunday Lake Gold.
The investments will be made at a price of C$0.092 a share, a 15% premium to the last closing price for Wallbridge's shares in Toronto.
Longtime shareholder Agnico Eagle has agreed to buy about 243.9 million shares for C$22.4 million, while Waratah will purchase 364.3 million shares for about C$33.5 million, Wallbridge said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 20, 2026 08:03 ET (12:03 GMT)
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