Wallbridge receives $4.7-million in Quebec tax credits

Executive Summary

• Wallbridge Mining Company Ltd. received a cash refund of $4.7 million from Quebec’s refundable investment tax credit (TCRR) for 2024 exploration expenses.
• The credit pertains to eligible exploration costs not financed through Quebec flow‑through shares and will be applied to advance the company’s programs at Martinière, Fenelon and other properties.
• This infusion of cash strengthens Wallbridge’s balance sheet and supports continued exploration and development activities in its flagship projects.

Key Details

• Amount Received: $4.7 million cash refund.
• Source: Quebec refundable investment tax credit (TCRR) for the 2024 tax year.
• Eligibility Basis: Refund of a portion of eligible exploration expenses that were not financed by Quebec flow‑through shares.
• Use of Proceeds: To fund ongoing exploration and development at the Martinière, Fenelon, and additional mineral properties in Quebec’s Abitibi region.
• Impact: Provides non‑dilutive financing to support the company’s near‑term drilling programs and project advancement without affecting shareholder equity.

Notable Quotes

“The receipt of the TCRR Quebec investment tax credits will be used to continue to advance the company's exploration and development programs at Martinière, Fenelon and other of the company's mineral properties.” – Brian Penny, President & CEO, Wallbridge Mining Company Ltd.