Mr. Shaun Pollard reports
WESTHAVEN ENTERS INTO LOAN AGREEMENT WITH ANGLO CELTIC EXPLORATION
Westhaven Ventures Inc. has entered into a loan agreement with Anglo Celtic Exploration Ltd. to provide an unsecured loan of
$200,000. Any outstanding balance on the loan is to be fully repaid by Nov. 19, 2015. The company may make early repayment of the loan at any time prior to the maturity date
without any prepayment penalty or bonus. The loan will accrue interest at a rate of 10 per cent per annum,
with the accrued interest to be paid at the time of the repayment of the loan.
Anglo Celtic is a private company owned by Grenville Thomas and Gareth Thomas. Grenville
Thomas is the president and chief executive officer of Westhaven Ventures, and Gareth Thomas is a
director. Grenville Thomas and Gareth Thomas beneficially own, directly or indirectly, or exercises
control or direction over, 10,683,000 common shares of Westhaven, representing approximately
39.44 per cent of the 27,081,679 issued and outstanding common shares of Westhaven.
Anglo Celtic is controlled by directors of the company, and is a related party of the company
within the meaning of Multilateral Instrument 61-101 protection of minority securityholders in special
transactions. As such, the loan constitutes a related-party transaction within the
meaning of MI 61-101.
The proceeds of the loan will be used to advance exploration efforts at the company's Ben and Ben
South properties, and for general working capital.
The Ben property is an exploration-stage nickel project located approximately 52 kilometres north of
Williams Lake, B.C.
As of Nov. 24, 2014, the company has completed three drill programs consisting of 2,610 metres of
diamond drilling across 23 holes. These 23 holes were drilled in five separate zones, with the most
recent drill campaign focusing on the Skelton zone, Southern Lobe zone, Ring zone and Northern
Lobe zone.
Nickel mineralization on the Ben is contained within extensive serpentine bodies, and occurs mainly
as the high-grade nickel sulphides pentlandite, millerite and bravoite. Nickel-bearing serpentinite is
abundant on the property. Data generated from drill programs have indicated that higher nickel
grades are associated with higher magnetic susceptibility readings. Management believes this is a
large system which is outlined well by the airborne magnetic survey.
Assays are pending from a recently completed 928-metre diamond drill program.
Qualified person statement
L. John Peters, PGeo, who is a qualified person within the context of National Instrument 43-101, has
read and takes responsibility for this release.
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