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Westhaven Gold Closes First Tranche of Non-Brokered Flow-Through Private Placement
VANCOUVER, British Columbia, March 11, 2024 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V: WHN) is pleased to announce that it has closed Tranche 1 of the non
About this update from Westhaven Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, March 11, 2024 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V: WHN) is pleased to announce that it has closed Tranche 1 of the non-brokered private placement announced on February 20, 2024. The Company issued a total of 6,915,313 common shares that qualify as “flow-through shares” of the Company for the purposes of the Income Tax Act (Canada) (the “FT Common Shares”) at a price of C$0.23 per FT Common Share for aggregate gross proceeds of $1,590,522. 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 of the FT Shares with an effective date of no later than December 31, 2024. Westhaven is preparing to resume drilling on its 17,623-hectare Shovelnose gold property in the next 7 days. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia. The private placement remains subject to TSX Venture Exchange approval. Finders’ fees of 6% cash totaling $93,499 were paid in connection with the financing. All securities issued in the Offering are subject to a hold period and may not be traded before July 11, 2024. On behalf of the Board of DirectorsWESTHAVEN GOLD CORP. \"Shaun Pollard\" Shaun Pollard, CFO Tel: 1.604.681.5558 Ext: [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This new release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, other than as required by securities laws. This press release does not constitute an offer to sell or a sol...