Business
WestKam Gold Announces Increase to Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2017) - WestKam Gold Corp. (TSX VENTURE:WKG) (the "Company" or "WestKam") announces that the Company is amen
About this update from Big Bear Gold Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 11, 2017) - WestKam Gold Corp. (TSX VENTURE:WKG) (the \"Company\" or \"WestKam\") announces that the Company is amending its previously announced private placement (the \"Offering\") (see news release dated April 25, 2017) by increasing the aggregate proceeds raised under the Offering by an additional $60,000. Subject to certain limitations discussed below, the Offering is open to all existing shareholders of the Company. The Offering is subject to TSX Venture Exchange (\"TSXV\") final acceptance. Any existing shareholders interested in participating in the Offering should contact the Company pursuant to the contact information set forth below. The Offering The maximum Offering is 15,500,000,000 Units for gross proceeds of $310,000. The Offering is not subject to any minimum aggregate subscription. Each Unit will consist of one common share in the capital of WestKam (the \"Common Shares\") and one Common Share purchase warrant (the \"Warrants\"). Each Warrant will be exercisable into one Common Share for a period of three years at a price of $0.05/share. A finder's fee of cash, Common Shares or Warrants, or a combination thereof, may be paid to eligible finders with respect to any portion of the Offering that is not subscribed for by existing shareholders. The proceeds of the Offering will be used to conduct property maintenance on the Company's Bonaparte North property, for working capital and general corporate purposes. Assuming the entire $310,000 Offering is completed, the use of proceeds will be as follows: Bonaparte North Property work program ($61,000); Bonaparte North Property maintenance ($15,000); Bonaparte North Property environmental ($15,000); Bonaparte Property reclamation bond deposit ($60,000), geological consulting ($34,000); legal/accounting/audit costs ($53,000); transfer agent fees/regulatory listing and filing fees ($9,000); website/corporate communications ($5,000); rent/office expenses and general supplies ($5,500); consulting fees ($15,000); management fees ($20,000) and unallocated/general corporate purposes ($17,500). Although the Company intends to use the proceeds of the Offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the Of...