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Westhaven Gold Receives Commitment for Strategic Investment from Rob McEwen of C$1.5 Million as Part of Previously Announced Brokered Private Placement Offering
VANCOUVER, British Columbia, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) (“Westhaven” or the “Company”) is pleased to announce, further
About this update from Westhaven Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) (“Westhaven” or the “Company”) is pleased to announce, further to its press release dated September 25, 2024 announcing a $5,000,000 brokered best efforts offering (the “ Marketed Offering”) with Red Cloud Securities Inc. (the “Agent”) acting as agent, the Agent has received overnight a commitment from Rob McEwen for participation in the Marketed Offering as a subscriber. As previously announced, the Company entered into on September 25, 2024, an agreement with the Agent to act as sole agent and bookrunner in connection with the Marketed Offering to raise gross proceeds of C$5,000,0000 from the sale of the following: 10,000,000 units of the Company (each, a “Unit”) at a price of C$0.15 per Unit for gross proceeds of up to C$1,500,000 from the sale of Units; and gross proceeds of up to C$3,500,000 from the sale of any combination of (i) common shares of the Company that will quality as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each, a “Traditional FT Share”) at a price of C$0.175 per Traditional FT Share and (ii) flow-through units of the Company to be sold to charitable purchasers (each, a “Charity FT Unit”, and collectively with the Units and Traditional FT Shares, the “Offered Securities”) at a price of C$0.22 per Charity FT Unit. Rob McEwen has agreed to make a strategic investment of C$1.5 million in Offered Securities, through his private holding company Evanachan Ltd. Mr. McEwen is the founder and former Chairman of Goldcorp, is currently the Executive Chairman and largest shareholder of McEwen Mining Inc. and is a member of the Mining Hall of Fame. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the Offered Securities will be offered for sale to purchasers in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan (the “Canadian Selling Jurisdictions”) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). The Offered Securities are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Agent was granted ...