VANCOUVER, British Columbia, March 28, 2024 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V: WHN) is happy to announce that it has closed the ultimate tranche of the non-brokered non-public placement introduced on February 20, 2024. Westhaven has issued a complete of seven,926,182 widespread shares that qualify as “flow-through shares” of the Firm for the needs of the Revenue Tax Act (Canada) (the “FT Frequent Shares”) at a value of C$0.23 per FT Frequent Share for mixture gross proceeds of $1,823,022.
Proceeds from the Providing will probably be used to incur “Canadian exploration bills” (throughout the which means of the Revenue Tax Act (Canada)) associated to Westhaven’s initiatives in British Columbia, Canada. The Firm will resign these bills to the purchasers of the FT Shares with an efficient date of no later than December 31, 2024.
On March 20, 2024, the Firm introduced that it had initiated a 4000-metre diamond drill program on its 17,623-hectare Shovelnose gold property situated throughout the potential Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Freeway 30 kilometres south of Merritt, British Columbia.
The non-public placement stays topic to TSX Enterprise Trade approval. The securities issued within the first closing are topic to a maintain interval and might not be traded earlier than July 11, 2024. The 1,010,869 securities issued within the last tranche are topic to a maintain interval and might not be traded earlier than July 28, 2024.
The Firm paid finders’ charges of $26,508 to Purple Cloud Securities Inc., $25,875 to Nationwide Financial institution Monetary Inc., $24,150 to Generic Capital Corp., $16,261 to Analysis Capital Corp., $6,679 to iA Non-public Wealth Inc., $3,900 to Haywood Securities Inc., $1,504 to Raymond James Ltd., $1,311 to PI Monetary Corp., and $1,000 to SCP Useful resource Finance LP.
Westhaven has granted 3,900,000 incentive inventory choices to administrators, officers, and consultants. The inducement inventory choices have an train value of $0.25 per share, are legitimate for a 5-year interval from the date of grant and are topic to regulatory approval.
The Firm’s Inventory Possibility Plan permits for the issuance of as much as 10% of issued and excellent share capital within the type of incentive inventory choices. On account of this grant, the Firm has 13,335,000 inventory choices issued, representing 9% of the issued and excellent share capital.
On behalf of the Board of Administrators
WESTHAVEN GOLD CORP.
“Shaun Pollard”
Shaun Pollard, CFO
Tel: 1.604.681.5558 Ext: 103
[email protected]
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.
This new launch incorporates forward-looking statements. These statements are based mostly on present expectations and assumptions which can be topic to dangers and uncertainties. Precise outcomes might differ materially due to elements mentioned within the administration dialogue and evaluation part of our interim and most up-to-date annual monetary statements or different stories and filings with the TSX Enterprise Trade and relevant Canadian securities regulators. We don’t assume any obligation to replace any forward-looking statements, aside from as required by securities legal guidelines.
This press launch doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any of the securities in america. The securities haven’t been and won’t be registered beneath america Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities legal guidelines and might not be provided or bought inside america or to or for the account or good thing about a U.S. individual (as outlined in Regulation S beneath the U.S. Securities Act) until registered beneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is obtainable.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration firm advancing the high-grade discovery on the Shovelnose challenge in Canada’s latest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 sq. kilometres) with 4 gold properties unfold alongside this underexplored belt. The Shovelnose property is located off a serious freeway, close to energy, rail, giant producing mines, and inside commuting distance from the town of Merritt, which interprets into low-cost exploration. Westhaven trades on the TSX Enterprise Trade beneath the ticker image WHN. For additional info, please name 604-681-5558 or go to Westhaven’s web site at www.westhavengold.com.
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