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Western Gold Exploration Announces C$2 Million Non-Brokered Private Placement
North Berwick, Scotland--(Newsfile Corp. - July 25, 2023) - WESTERN GOLD EXPLORATION LTD. (TSXV: WGLD) (the "Company") is pleased to announce that it intends to
About this update from Western Gold Exploration Ltd.
[{"type":"text","content":" North Berwick, Scotland--(Newsfile Corp. - July 25, 2023) - WESTERN GOLD EXPLORATION LTD. (TSXV: WGLD) (the \"Company\") is pleased to announce that it intends to complete a non-brokered private placement of up to 16,666,666 common shares of the Company (\"Shares\") at a price of CAD$0.12 per Share for gross proceeds of up to CAD$2,000,000 (the \"Private Placement\"). The Company has the option to increase the size of the Private Placement by up to an additional 2,500,000 Shares, for total gross proceeds of up to CAD$300,000. The Private Placement is subject to the approval of the TSX Venture Exchange (the \"Exchange\"). The securities issued in connection with the Private Placement will be subject to a four-month hold period, in accordance with applicable securities laws. The Company intends to use the proceeds from the Private Placement on an exploration drilling program and all related work on its landholdings, including general and administrative expenses. The Company may pay a commission or finder's fee (in cash and/or finder's warrants) to eligible parties in connection with the Private Placement, subject to the approval of the Exchange and compliance with applicable securities laws. About Western Gold Exploration The Company is a mineral exploration company that is listed on the TSX Venture Exchange under the symbol \"WGLD\". The Company is focused on the exploration of mineral properties in Scotland and discovering new opportunities across the underexplored Caledonian Appalachian and identifying locations of gold and critical metal deposits. The Company's principal focus is its Lorne Project, which includes the Lagalochan copper gold porphyry property located in Argyll, Scotland (the \"Lagalochan Property\"), and the adjacent and nearby properties along the Lorne Fault Zone. Glasgow is the nearest city and lies 85 km to the southeast of the Lagalochan Property. On 29 November 2022, the Company filed a National Instrument 43-101 - Standards of Disclosure for Mineral Projects compliant, independent Technical Report (the \"Report\") on the Lagalochan Property. The Company expects to advance the Lagalochan Property exploration work in accordance with the Report recommendations. Additional exploration of the Lorne Project may include Geophysics testing, including a joint IP/Mag. survey proposed to test the subsurface express...