Westhaven Gold Corp. (TSXV:WHN) is increasing the size of its previously announced proposed non-brokered private placement financing.
As per the company’s July 25th, 2022, news release, the placement was to be up to 6,818,182 flow-through (FT) common shares of the company at a price of $0.44 per FT share for gross proceeds of up to $3,000,000.
The placement will now be for up to 9,739,847 FT common shares to raise gross proceeds of $4,285,533. The closing of the financing is anticipated to occur on July 29th, 2022. All other terms of the placement remain unchanged.
The gross proceeds from the Offering will be used to incur “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to Westhaven’s projects in British Columbia, Canada.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt.
Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration.
For further information please visit: https://www.westhavengold.com/
