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Westhaven Gold Completes Oversubscribed Non-Brokered Private Placement of Flow-Through Common Shares
VANCOUVER, British Columbia, July 29, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that it has now closed the previously ann
About this update from Westhaven Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, July 29, 2022 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that it has now closed the previously announced non-brokered private placement. The Company issued a total of 9,739,847 common shares that qualify as “flow-through shares” of the Company for the purposes of the Income Tax Act (Canada) (the “Flow-Through Common Shares”) at a price of C$0.44 per Flow-Through Common Share for aggregate gross proceeds of $4,285,533. The gross 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 with an effective date of no later than December 31, 2022. The private placement remains subject to TSX Venture Exchange approval. The Company paid finders’ fees of $39,001 to Red Cloud Securities Inc., $18,876 to National Bank Financial Inc., and $1,320 to Haywood Securities Inc. All securities issued in the Offering are subject to a hold period expiring on November 30th, 2022. 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 news 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 solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any st...