Mr. Nader Vatanchi reports
WEST MINING ANNOUNCES PRIVATE PLACEMENT
West Mining Corp. will be conducting a non-brokered private placement of up to $500,000 through the issuance of up to 1,666,667 units at a price of 30 cents per unit. Each unit will consist of one common share and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 40 cents for a period of two years from the date of issuance, provided that if the closing price of the common shares on the Canadian Securities Exchange is at or above 60 cents for 10 consecutive trading days, then the expiry date for the warrants will be automatically accelerated to the date which is 30 days after the date the company provides notice of such acceleration to the holders of the warrants by issuing a news release. The company may pay finders' fees in connection with the financing. The company intends to use the proceeds of the financing for exploration of its Spanish Mountain and Junker properties, marketing/investor relations, and general working capital.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the financing is being made to purchasers resident in each of the provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities offered under the exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the financing that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.
About
West
Mining
Corp.
West Mining is a mineral exploration company acquiring and developing advanced and early-stage exploration projects. Its flagship project is its 100-per-cent-owned, 9,000-hectare prospective Kena project, located near Nelson, B.C. The Kena project comprises three adjoining properties: Kena, Daylight and Athabasca. A 2021 NI 43-101 resource estimate for Kena gave 561,900 ounces gold indicated and 2,773,100 ounces gold inferred in the Gold Mountain, Kena Gold and Daylight zones. The Daylight property contains the historic past-producing Daylight, Starlight, Victoria, Irene and Great Eastern gold mines. Along trend to the north is the Athabasca property, with the historic Athabasca gold mine. The company also holds a 100-per-cent interest in its Spanish Mountain and Junker properties.
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