Home Financial responsibility Westhaven increases the size of the private placement without intermediary

Westhaven increases the size of the private placement without intermediary


VANCOUVER, British Columbia, July 27, 2022 (GLOBE NEWSWIRE) — Westhaven Gold Corp. (TSX-V: WHN) announces that it is increasing the size of its previously announced proposed non-brokered private placement financing. In accordance with the Company’s July 25e, 2022, press release, the placement was to consist of 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 common shares of FT to raise gross proceeds of $4,285,533. The financing is expected to close on July 29, 2022. All other terms of the offering remain unchanged.

The gross proceeds of the offering will be used to incur “Canadian exploration expenses” (as defined in the Income Tax Act (Canada)) related to Westhaven’s projects in British Columbia, Canada. The Company will waive these expenses to purchasers with an effective date no later than December 31, 2022.

The private placement is subject to the approval of the TSX Venture Exchange. Westhaven may pay finder’s fees to eligible intermediaries as permitted by applicable securities laws and the rules of the TSX-V. All securities issued under the Offer are subject to a four-month hold period, during which time the securities may not be traded.

On behalf of the Board of Directors

“Shaun Pollard”

Shaun Pollard, Chief Financial Officer

Such. : 1.604.681.5558 Extension: 103
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new version contains forward-looking statements. These statements are based on current expectations and assumptions which are subject to risks and uncertainties. Actual results could differ materially due to factors discussed in the “Management Discussion and Analysis” section of our interim and most recent annual financial statements or other reports and documents filed with the TSX Venture Exchange and regulatory authorities. Canadian Securities Regulations applicable. We undertake no obligation to update forward-looking statements, except as required by securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”), or any state securities law and may not be offered or sold in the United States or to or for the account or benefit of a United States Person (as defined in Regulation S of the US Securities Act) unless registered in under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

About Westhaven Gold Corp.

Westhaven is a gold-focused exploration company advancing the high-grade discovery of the Shovelnose Project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometers) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is located near a major highway, close to power, rail lines, major producing mines and within commuting distance of the town of Merritt, resulting in low cost exploration. Westhaven trades on the TSX Venture Exchange under the symbol WHN. For more information, please call 604-681-5558 or visit the Westhaven website at www.westhavengold.com.