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Westward Gold Announces Exercise of Crescat's Over-Allotment Option, Increasing Its Total Investment to C$1.5M
Vancouver, British Columbia – TheNewswire - April 3, 2025 – Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) (“Westward” or the “Company”) is pleased to an
About this update from Westward Gold Inc
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - April 3, 2025 – Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) (“Westward” or the “Company”) is pleased to announce that – further to press releases dated March 19 and March 26, 2025 – incoming strategic investor Crescat Capital LLC (“Crescat”) has exercised its over-allotment option in full, increasing its total investment in Westward’s previously-announced non-brokered private placement (the “Offering”) to C$1,500,000. Crescat will be subscribing for a total of 18,750,000 units (each, a “Unit”), through Crescat Portfolio Management LLC on behalf of its five (5) Pooled Investment Funds. Each Unit will be comprised of one common share of the Company (each, a “Common Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company at a price of C$0.12 for a period of 24 months following the closing date of the Offering. The net proceeds from the Offering will be used primarily for (i) drilling at Westward’s flagship Toiyabe Hills Property in Nevada, where a 5,000-meter program across up to 10 holes is planned to test the Company’s Campfire Target Complex (see press release dated February 27, 2025, for additional information), and (ii) general working capital purposes. Closing of the Offering is subject to receipt of all necessary regulatory approvals, including from the Canadian Securities Exchange (the “CSE”). The Common Shares and Warrants issued in relation to the Offering will be subject to a hold period of four months and one day, in accordance with applicable securities laws. Certain finder’s fees may also be payable to qualifying parties in accordance with the policies of the CSE. The Offering will not result in the creation of a new Control Person of the Company (as such term is defined in the policies of the CSE), as the Warrants are not exercisable if such exercise would result in the holder, together with any person or company acting jointly or in concert with the holder, owning, or exercising control or discretion, over 20% or greater of the issued and outstanding shares of the Company. Certain insiders of the Company intend to acquire Units in the Offering. The participation by such insiders in the Offering will constitute a “related party transaction” as defined under Multilat...