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West Kirkland Announces a Non-Brokered Private Placement for $1,374,000
Not for dissemination in the United States or to United States newswire services VANCOUVER, British Columbia, March 13, 2018 (GLOBE NEWSWIRE) -- West Kirkland M
About this update from West Vault Mining Inc
[{"type":"text","content":" Not for dissemination in the United States or to United States newswire services VANCOUVER, British Columbia, March 13, 2018 (GLOBE NEWSWIRE) -- West Kirkland Mining Inc. (TSXV:WKM) (“West Kirkland” or the “Company”) announces the execution of subscription agreements for a non-brokered private placement of common shares of the Company with three of its major shareholders and two new investors (the “Private Placement”). The Company has agreed to issue an aggregate of 22,900,000 common shares at a price of $0.06 per share for aggregate gross proceeds of $1,374,000. A 6% finder’s fee amounting to $27,720 is to be paid on a portion of the Private Placement, which was otherwise arranged by management. The Company intends to use the net proceeds of the Private Placement for general working capital, phase two permitting in Nevada on its 75%-owned Hasbrouck Gold Project, and for targeted resource expansion drilling and regional exploration on surface gold mineralization identified on the recently acquired 100% mineral rights at Gold Mountain and Hill of Gold, which adjoin the Hasbrouck Gold Project. Clover Nevada LLC, a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP, (“Waterton”), owns the remaining 25% interest in the Hasbrouck Project. Waterton has been funding their 25% share of project expenditures since September, 2016. The Private Placement will be subject to the approval of the TSX Venture Exchange (“Exchange”) and the common shares issued pursuant to the Private Placement will bear a four-month resale restriction from the date of closing, which the Company anticipates will occur as soon as possible after receipt of Exchange approval. The common shares to be sold pursuant to the Private Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities i...