Wolfden Resources Corporation announced that it expects to receive CAD 2 million in funding from Kinross Gold Corporation, Altius Minerals Corporation

Wolfden Resources Corporation (TSXV:WLF) announced that it has entered into a subscription agreement with returning investors Altius Minerals Corporation (TSX:ALS) and Kinross Gold Corporation (TSX:K) for a non-brokered private placement of 6,250,000 common shares at a price of CAD 0.32 per share for gross proceeds of CAD 2,000,000 on January 18, 2021. Upon closing, Altius Minerals Corporation (TSX:ALS) will hold approximately 12.5% and Kinross Gold Corporation (TSX:K) will hold approximately 11.4% of the issued and outstanding shares of the company. The transaction is subject to TSX Venture Exchange approval and no compensation is expected to be paid in respect of the transaction.

The securities to be issued pursuant to the transaction will be subject to a four-month hold period under applicable Canadian securities laws. The transaction is expected to close no later than January 29, 2021.