Vancouver, B.C. – July 29th, 2022 – Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that it has now closed the previously announced non-brokered private placement. The Company issued a total of 9,739,847 common shares that qualify as “flow-through shares” of the Company for the purposes of the Income Tax Act (Canada) (the “Flow-Through Common Shares”) at a price of C$0.44 per Flow-Through Common Share for aggregate gross proceeds of $4,285,533.
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. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2022.
The private placement remains subject to TSX Venture Exchange approval. The Company paid finders’ fees of $39,001 to Red Cloud Securities Inc., $18,876 to National Bank Financial Inc., and $1,320 to Haywood Securities Inc. All securities issued in the Offering are subject to a hold period expiring on November 30th, 2022.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
“Shaun Pollard”
Shaun Pollard, CFO
Tel: 1.604.681.5558 Ext: 103
spollard@westhavengold.com
