Business
Westmount Announces Fully Subscribed Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2023) - Westmount Minerals Corp.  (...
About this update from Westmount Minerals Corp.
[{"type":"text","content":"Westmount Announces Fully Subscribed Private PlacementVancouver, British Columbia--(Newsfile Corp. - June 9, 2023) - Westmount Minerals Corp. (CSE: WMC) (\"Westmount\" or the \"Company\") is pleased to announce a fully subscribed, non-brokered, private placement financing of $250,000 priced at $0.05 per Unit. Each Unit will consist of one common share and one share purchase warrant, with each warrant exercisable into a common share for a period of 24 months at an exercise price of $0.075 for the first year and $0.10 for the second year following the Closing Date.Proceeds from the financing shall be used for exploration activities on Westmount's Ontario lithium projects as well as working capital and general corporate activities. Initial exploration focus will be on Westmount's recently acquired, Kaba Lithium Project, located in the Georgia Lake area of Northwestern Ontario. Closing will be subject to the Canadian Securities Exchange (CSE) approval, and any shares issued will be subject to a four-month hold period.About Westmount Minerals Corp.Westmount is focused on mineral exploration in the Americas and is well positioned in the emerging world-class critical minerals district of NW Ontario. Its 3,486 hectares, Kaba lithium property is located in the Georgia Lake, lithium-pegmatite region in close proximity to Rock Tech Lithium Inc. Multiple pegmatite showings have been documented and mapped on the Property by the Ontario Geological survey. Additionally, Westmount can earn a 100% interest in the 5,002 hectare lithium-pegmatite bearing, Otatakan and Pilot East Lithium properties located near Ear Falls, Ontario. The properties are just south of Green Technologies' expanding Root deposit. The Company has advanced the Douay East gold property located within the greater Abitibi Greenstone Belt region in Quebec to the drill-ready stage. On Behalf of the Board of DirectorsDavid TafelChief Executive Officer and DirectorFor further information, please contact:David TafelChief Executive Officer and Director(604) 683-1991Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Statements:This news release includes certain forward-looking statements and forward-looking ...