VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2013) - Woulfe Mining Corp. ("Woulfe" or the "Company") (TSX VENTURE:WOF)(OTCQX:WFEMF)(FRANKFURT:OZ4) is pleased to announce the re-appointment of Ned Goodman to the board of directors.
The Company is also pleased to announce it has arranged a non-brokered private placement to raise gross proceeds of $1 million. The placement involves the sale of 10,000,000 units at a price of $0.10 per unit. Each unit will comprise one common share and one warrant exercisable to acquire an additional share of the Company at a price of $0.12 per share for a period of three years.
The Company intends to use the net proceeds of the placement for general corporate purposes. The placement is subject to normal regulatory approvals, including approval of the TSX Venture Exchange.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Hubert Marleau, Interim Chief Executive Officer and Director
About Woulfe Mining Corp. "Unearthing Global Assets"
Woulfe Mining Corp is focused on "Unearthing Global Assets" through the recognition and development of undervalued natural resource projects. Woulfe differentiates itself by boasting significant technical expertise in the design, development and operation of mining projects.
Our flag ship project is the Sangdong tungsten mine in South Korea, historically the world's largest tungsten mine for over 40 years. Sangdong is expected to return to production by Q4 of 2013. Woulfe has entered into strategic agreements with International Metalworking Companies B.V. ('IMC'), part of the Berkshire Hathaway group of companies. This partnership brings strategic advantage given Woulfe's mining and processing technical abilities and IMC's downstream manufacturing skills, high level of innovation and quality of products sold into the global tungsten market. Woulfe Mining Corp. is a Canadian TSX-V listed company. Further information can be found on Woulfe's website www.woulfemining.com or on firstname.lastname@example.org.
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.