West Mining Corp. Executes LOI for Property Option Transaction

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[{"type":"text","content":"West Mining Corp. Executes LOI for Property Option Transaction\n \n \n (TheNewswire)\n \n \n \n Vancouver, B.C. -\n \n \n November\n \n \n 11\n \n \n ,\n \n \n 2020 -\n \n \n West Mining Corp.\n \n \n (\"West\" or the \"Company\"; formerly Ironwood\nCapital Corp.)\n \n \n (TSXV:WEST)\n \n \n is pleased to announce that it\nhas signed a non-binding letter of intention (the \"LOI\")\nwith Boundary Gold and Copper Mining Ltd. (\"Boundary\") and\n1994854 Alberta Ltd. (\"Alberta\", which is Boundary's\nwholly-owned subsidiary) which contemplates a transaction under which\nWest will have an option to earn up to a\n \n \n 100%\nundivided right, title and interest in the Kena and Daylight\nGold-Copper Properties (including the Toughnut Claims)(collectively,\nthe \"Properties\"), comprised of 174 mineral claims and 11\ncrown grants located in the\n \n \n Nelson\n \n \n Mining District in the Province of\n \n \n British Columbia and\n \n \n covering\n8,810\n \n \n hectares. Upon signing the LOI, the\nCompany paid a non-refundable $25,000.00 cash deposit to Boundary as\nconsideration for the 30 day exclusivity and due diligence period\ngranted to West under the LOI.\n \n \n \n \n The transaction contemplated by the LOI will provide\nthe Company with the option to acquire up to an 100% interest in and\nto the Property by, over a 36 month period, making cash payments to\nBoundary, issuing West common shares to Boundary, and making\nexploration expenditures on the Property, all in amounts and in\naccordance with timeframes to be negotiated and determined by the\nparties prior to executing a binding, definitive agreement respecting\nthe transaction upon West completing its due diligence investigations.\n \n \n \n \n The Company also announced that it will be conducting a\nprivate placement financing for gross proceeds of up to $2,000,000\nthrough the issuance of up to 11,111,111 units (each, a\n\"Unit\") at a price of $0.18 per Unit. E\n \n \n ach Unit will be comprised of one common share and one-half\nof one transferable common share purchase warrant, with each whole\nwarrant exercisable for one common share at an exercise price of $0.35\nfor two years from the date of issuance.\n \n \n \n \n The securities being offered under the private\nplacement have not been, nor will they be, registered under the United\nStates Securities Act of 1933, ...

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