Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) completed a private placement raising approximately C$56 million through the sale of common shares to two investors, according to a company statement.

Agnico Eagle Mines Limited purchased 243,927,966 common shares for gross proceeds of approximately C$22.4 million, while Waratah Capital Advisors Limited, representing certain investment funds, acquired 364,339,130 common shares for gross proceeds of approximately C$33.5 million.

Following the transaction, both Agnico Eagle and Waratah each hold approximately 19.9% of Wallbridge's common shares on a partially-diluted basis.

The company stated the net proceeds, combined with existing financial resources, will fund completion of a pre-feasibility study on its Fenelon project. Wallbridge plans to complete its 2026 exploration program at the Martiniere, Casault, and Grasset properties before focusing primarily on Fenelon development.

Wallbridge operates gold projects in Quebec's Abitibi region and holds mineral properties totaling 598 square kilometers extending approximately 82 kilometers along the Detour-Fenelon gold trend. The company's portfolio includes the Fenelon Gold Project, currently at the preliminary economic assessment stage, and the earlier-stage Martiniere Gold Project.