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West Kirkland Announces Closing of Non-Brokered Private Placement for $1,650,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2016) - NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES West Kirkland Mini

articleWest Vault Mining IncOctober 28, 20163/news/west-kirkland-announces-closing-of-non-brokered-private-placement-for-dollar1650000
West Kirkland Announces Closing of Non-Brokered Private Placement for $1,650,000

About this update from West Vault Mining Inc

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2016) - NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES West Kirkland Mining Inc. (TSX VENTURE:WKM) ("West Kirkland" or the "Company") announces that it has closed a private placement of common shares of the Company with two of its major shareholders for $1,650,000 at $0.10 per share (the "Private Placement"). The Company issued 16,500,000 shares at a price of $0.10 per share for aggregate gross proceeds of $1,650,000. There were no finder's fees or commissions paid on the Private Placement which was arranged by management with the Company's major shareholders. Following the Private Placement Sun Valley Gold Master Fund, Ltd. and Ruffer LLP, on behalf of its clients, will hold 33.19% and 16.84% respectively of the common shares of the Company. The Company intends to use the net proceeds of the Private Placement for general working capital, targeted resource expansion drilling, regional exploration, and phase-two permitting on its 75% interest in the Hasbrouck Project in Nevada. Clover Nevada LLC, a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP, ("Waterton"), owns the remaining 25% interest in the Hasbrouck Project. Waterton has indicated to the Company that they will fund their 25% share of project expenditures. The shares sold in this Private Placement will be subject to a four-month resale restriction from the date of closing. The securities offered pursuant to the Offerings have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About West Kirkland Mining Inc. West Kirkland owns a 75% interest in the Hasbrouck Gold Project in Tonopah, Nevada. A completed Pre-Feasibility Study and Environmental Assessment with construction level drawings a...

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