FAQ

We are always listening

Feb 3, 2021

If you have a question, chances are someone else is wondering about the same thing. So please don’t be shy about asking questions! You can send us an email to info@wallbridgemining.com.

We won’t always have answers right away, but we will reply to you as quickly as we can.

We look forward to hearing from you!  

FREQUENTLY ASKED QUESTIONS

  • Q - How has the COVID-19 virus affected your exploration activities and business?

    Like other organizations, COVID-19 has presented challenges to Wallbridge. On March 23, 2020, Wallbridge announced the suspension of exploration activities in accordance with the plans implemented by the governments of Quebec and Ontario. The Fenelon gold project was put on limited care and maintenance aimed at protecting the staff, contractors, surrounding communities, facilities and the environment. Exploration activities remained suspended at Fenelon until May 11, 2020. Throughout this period, staff remained busy working remotely on geological modelling, technical studies, and other project-related activities. Upon the resumption of work, the company restarted drilling with four drills, and this level of activity is expected to continue for the foreseeable future. As previously announced, Wallbridge has revised its fully-funded 2020 Fenelon drill program to an estimated 70,000 to 80,000 metres.

  • Q - How was the exchange ratio for the Balmoral acquisition calculated?

    The exchange ratio was determined through negotiation between the boards of directors and management of both Balmoral and Wallbridge in consultation with each of the companies’ respective financial advisors. The consideration offered by Wallbridge represented a premium of 46% to Balmoral shareholders, based on the volume weighted average price of the shares of both companies for the 20-trading day period ending February 28, 2020, the last trading day prior to the announcement of the Arrangement.

  • Q - What happened to my Balmoral shares and warrants following the May 2020 merger (acquisition) with Wallbridge?

    Each Balmoral share issued and outstanding, other than any Balmoral shares directly or indirectly owned by Wallbridge or a dissenting Balmoral shareholder, was acquired by Wallbridge from Balmoral shareholders, with Balmoral shareholders receiving 0.71 (the “Exchange Ratio”) of a common share of Wallbridge for each Balmoral share held. Each Balmoral warrant outstanding immediately prior to closing remains outstanding and, following closing, and entitles the holder thereof to receive, upon exercise of a Balmoral warrant at an exercise price adjusted in accordance with the Exchange Ratio, 0.71 of a Wallbridge share in lieu of each Balmoral share such holder otherwise would have been entitled to receive, subject to any adjustments or any restrictions, limitations, or subsequent adjustments that apply after the closing date pursuant to such certificates representing the Balmoral warrants.

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