07:18:30 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



West Mining Corp (2)
Symbol WEST
Shares Issued 6,146,230
Close 2023-12-08 C$ 0.275
Market Cap C$ 1,690,213
Recent Sedar Documents

West Mining arranges $250,000 private placement

2023-12-08 18:35 ET - News Release

Mr. Nader Vatanchi reports

WEST MINING ANNOUNCES PRIVATE PLACEMENT

West Mining Corp. will be conducting a non-brokered private placement of up to $250,000 through the issuance of up to five million units at a price of five cents per unit. Each unit will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 6.5 cents for a period of two years from the date of issuance. The company may pay finders' fees in connection with the financing. Securities issued under the financing will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The company intends to use the proceeds of the financing for general working capital.

The company also announces that it has entered into a debt settlement agreement dated as of Dec. 7, 2023, with an arm's-length third party under which the company will issue 750,000 common shares of the company at a deemed price of five cents per share to settle $37,500 of debt owed to the third party for services previously provided. When issued, the shares will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

About West Mining Corp.

West Mining is a mineral exploration company, acquiring and developing advanced and early-stage exploration projects. It is fully focused on its 100-per-cent-owned, 9,000-hectare prospective Kena project located near Nelson, B.C. The Kena project comprises three adjoining properties: Kena, Daylight and Athabasca. A recent National Instrument 43-101 resource estimate for Kena gave 561,900 ounces gold indicated and 2,773,100 ounces gold inferred in the Gold Mountain, Kena Gold and Daylight zones. The Kena property also hosts the large Kena copper zone, along with the historic Euphrates and Gold Cup gold-silver mines. The Daylight property contains the historic past-producing Daylight, Starlight, Victoria, Irene and Great Eastern gold mines. Along trend to the north is the Athabasca property, with the historic Athabasca gold mine. The historic mines and known mineralized zones on these three properties are structurally controlled along a 20-kilometre strike as identified by strong geophysical signatures.

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