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Message: Wesdome Gold arranges $1.72-million FT financing

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Wesdome Gold arranges $1.72-million FT financing

posted on Jan 19, 09 01:19PM

Wesdome Gold arranges $1.72-million FT financing

2008-12-16 08:53 ET - News Release

Mr. Rowland Uloth reports

WESDOME ANNOUNCES PROPOSED PRIVATE PLACEMENT OF FLOW-THOUGH SHARES FOR GROSS PROCEEDS OF UP TO $1,725,000

Wesdome Gold Mines Ltd. intends to raise up to $1,725,000 by way of a non-brokered private placement of a maximum of 1.5 million common shares issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of $1.15 per flow-through share. The proceeds of the offering will be used for follow-up drilling on the new Dubuisson zone discovery in Val d'Or, Que. Wesdome may pay a finder's fee of two cents per flow-through share to certain persons in connection with the offering. The offering is expected to close on or about Dec. 19, 2008, and remains subject to the approval of the Toronto Stock Exchange.

We seek Safe Harbor

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