09:55:36 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Westhaven Gold Corp
Symbol WHN
Shares Issued 140,586,345
Close 2024-02-20 C$ 0.22
Market Cap C$ 30,928,996
Recent Sedar Documents

Westhaven Gold arranges $2.3-million private placement

2024-02-20 16:07 ET - News Release

Mr. Shaun Pollard reports

WESTHAVEN ANNOUNCES $2,300,000 NON-BROKERED PRIVATE PLACEMENT

Westhaven Gold Corp. has arranged to issue, on a non-brokered private placement basis, up to 10 million flow-through common shares of the company at a price of 23 cents per flow-through share for gross proceeds of up to $2.3-million.

The gross proceeds from the offering will be used to incur Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) related to Westhaven's projects in British Columbia, Canada. The company will renounce these expenses to the purchasers with an effective date of no later than Dec. 31, 2024.

Existing directors and officers of Westhaven may choose to participate in the private placement. Participation of insiders of the company in the private placement constitutes a related party transaction as defined under Multilateral Instrument 61-101. Because the company's shares trade only on the TSX Venture Exchange, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(a) of MI 61-101.

The private placement is subject to TSX Venture Exchange approval. Westhaven may pay finders' fees to eligible finders, as permitted by applicable securities laws and the rules of the TSX-V. All securities issued in the offering are subject to a four-month hold period, during which time the securities may not be traded.

About Westhaven Gold Corp.

Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada's newest gold district, the Spences Bridge gold belt. Westhaven controls 37,000 hectares (370 square kilometres) with four gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail and large producing mines and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX-V under the ticker symbol WHN.

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