VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2013) -Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF) (OTCQX:WFEMF) (FRANKFURT:OZ4) is pleased to announce that further to its press release dated September 9, 2013, Korea Zinc Co. Ltd. ("Korea Zinc") has exercised its right to participate in the non-brokered private placement (the "Participation Right"), as originally announced on August 26, 2013.
As a result of the exercise of the Participation Right, Korea Zinc has acquired 3,133,053 units at a price of $0.10 per unit for aggregate gross proceeds of $313,305.30. The units were comprised of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable into one common share of the Company at a price of $0.12 per share until September 16, 2016.
All securities issued in connection with the Participation Right are subject to a four month hold period expiring on January 17, 2014.
The proceeds of the private placement will be used for general working capital purposes.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Hubert Marleau, Interim Chief Executive Officer and Director
About Woulfe Mining Corp.
Woulfe Mining Corp., through its wholly-owned subsidiary, Sangdong Mining Corporation, is dedicated to developing the Sangdong tungsten-molybdenum mine which was historically one of the largest tungsten mines in the world and one of the few long life, high-grade tungsten deposits located outside of China.
Woulfe Mining Corp. is a TSX-V listed company.
Neither 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.