Westhaven Gold Corp. Explores C$4 Million Financing Opportunity

Author: Dylan Bailey Updated: 05-01-2025 07:05 AM

Westhaven Gold Corp. Announces Private Placement Offering

Westhaven Gold Corp. (TSX-V: WHN), a dedicated gold exploration company, has unveiled an exciting opportunity to raise up to C$4 million through a brokered private placement. This significant financial move aims to bolster the company’s exploration initiatives, particularly within the promising Spences Bridge Gold Belt in British Columbia.

Details of the Offering

The agreement made with Red Cloud Securities Inc. positions the firm as the sole agent and bookrunner for this best-efforts private placement, referred to as the "Offering". The Offering will comprise various securities, including:

Units priced at C$0.12 each, which encompass a common share along with a half warrant.
Common shares that qualify as flow-through shares, priced at C$0.135 each.
Charity flow-through units available at C$0.18 each, designed for charitable purchasers.

Each Unit is constructed to include one common share and half a warrant, which provides the holder with the right to purchase one additional common share at C$0.18 within two years following the Offering's closing date.

Funds Utilization and Expansion Plans

The intended utilization of the net proceeds is focused on general corporate purposes and working capital, which signals Westhaven's commitment to advancing its projects. Notably, the proceeds from flow-through shares will specifically target exploration activities, demonstrating a keen focus on expanding their resource assessments and mining opportunities.

This Offering is projected to close around May 15, 2025, pending necessary approvals, including from the TSX Venture Exchange. This is a crucial step for Westhaven as it lays the groundwork for upcoming exploration endeavors within the rapidly evolving gold sector.

Incentives for the Agent and Related Participation

To enhance the Offering's attractiveness, Westhaven will provide a cash commission of 6% of gross proceeds to the agent, alongside the issuance of Broker Warrants, further aligning the agent's interests with those of the Company. Additionally, should there be participation from directors or officers in the Offering, such engagements will be carefully managed to comply with related transaction regulations.

About Westhaven Gold Corp.

Westhaven Gold is dedicated to exploring and developing high-grade epithermal gold deposits in British Columbia's newest gold district. It holds an impressive ~61,512 hectares across four properties, including the advanced Shovelnose Gold Project. This project has garnered attention due to its considerable economic potential, with an after-tax NPV suggesting a lucrative mine life. The Company prioritizes efficient and responsible mining practices, ensuring compliance with all regulatory requirements while fostering sustainable growth.

Please reach out to the Westhaven team at 604-681-5558 for any inquiries.

Frequently Asked Questions

What is the purpose of Westhaven's private placement?

The private placement aims to raise up to C$4 million to support exploration and general corporate activities.

Who is managing the private placement?

Red Cloud Securities Inc. is acting as the sole agent and bookrunner for this private placement.

How will the funds raised be utilized?

The funds will primarily be used for working capital and to further exploration efforts in British Columbia.

What types of securities are being offered?

The Offering includes units, flow-through shares, and charity flow-through units, each with specific pricing.

When is the closing date for the Offering?

The Offering is set to close around May 15, 2025, subject to necessary approvals.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

In addition to writing, I also host webinars and workshops, where I give presentations and share my knowledge with a wider audience. I also write for top financial journals and show up as a guest analyst on financial news shows. I like to travel, spend time with my family, and keep active by playing different sports when I'm not buried in market research.

My goal is to enable people to choose wisely and consciously in their investments, so taking charge of their financial futures. By my work, I hope to create a community of informed and self-assured investors prepared to take advantage of the chances presented by the stock market.

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