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Westward Gold Announces Non-Brokered Private Placement Financing with $1M Lead Order from Crescat Capital LLC
Vancouver, British Columbia – TheNewswire - March 19, 2025 – Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) (“Westward” or the “Company”) is pleased to a
About this update from Westward Gold Inc
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - March 19, 2025 – Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) (“Westward” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the “Offering”) of up to 32,500,000 units (each, a “Unit”) at a price of C$0.08 per Unit, for aggregate gross proceeds to the Company of up to C$2,600,000. 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 Company is also pleased to welcome its newest strategic shareholder, Crescat Capital LLC (“Crescat”), who will be subscribing for 12,500,000 Units for gross proceeds of $1,000,000, with an option to increase their participation to a maximum of 18,750,000 Units for gross proceeds of $1,500,000. Crescat will be subscribing through Crescat Portfolio Management LLC on behalf of its five (5) Pooled Investment Funds. 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 inte...