/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
TORONTO, April 23 /CNW/ - Wesdome Gold Mines Ltd. (the "Company") today
announced that it has engaged Loewen, Ondaatje, McCutcheon Limited and Pollitt
& Co. Inc. to act as co-lead agents for a private placement offering of senior
unsubordinated convertible debentures ("Debentures") in the aggregate
principal amount of C$15 million (the "Offering") to be marketed on a best
efforts basis. The term of the Debentures will be five years from the date of
closing of the Offering.
The Debentures will bear interest at a rate of 7% per annum payable
semi-annually and will be convertible into common shares of the Company: (i)
during the first two years, at $2.25 per common share; and (ii) after two
years, at $3.25 per common share.
The Company intends to use the net proceeds from the Offering for
corporate development and general working capital purposes.
The offering is expected to close on or about May 15, 2007 and is subject
to certain conditions including, but not limited to, the receipt of all
necessary approvals including the approval of the Toronto Stock Exchange.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
Wesdome Gold Mines Ltd. is an established Canadian gold producer with
mining operations and development projects in Wawa, Ontario and Val d'Or,
Quebec. The Company has 90.5 million shares issued and trades on the TSX
Exchange under the symbol "WDO".
For further information:
For further information: on Wesdome Gold Mines Ltd., please contact:
Donovan Pollitt, VP Corporate Development, 8 King St. East, Suite 1305,
Toronto, ON M5C 1B5, Toll Free: 1-866-4-WDO-TSX, Phone: (416) 360-3743, Fax:
(416) 360-7620, Email: firstname.lastname@example.org, Website: www.wesdome.com