Vancouver, BC, June 24, 2024 (GLOBE NEWSWIRE) -- West Mining Corp. (“West” or the “Company”) (CSE: WEST) (OTC: WESMF) (FRA: 1HL) is pleased to announce that it 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 $0.30 per unit (the “Financing”). 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 $0.40 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 $0.60 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 finder’s 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 (“NI 45-106”), 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 “Exemption”). 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 (the “Offering Document”) related to the Financing that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.westminingcorp.ca. Prospective investors should read this Offering Document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
AboutWestMiningCorp.
West Mining Corp. is a mineral exploration company acquiring and developing advanced and early-stage exploration projects. Its flagship project is its 100% owned, 9000-hectare prospective Kena Project located near Nelson, British Columbia. The Kena Project comprises three adjoining Properties: Kena, Daylight and Athabasca. A 2021 NI43-101 resource estimate for Kena gave 561,900 oz Au indicated and 2,773,100 oz Au 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% interest in its Spanish Mountain and Junker properties.
For additional information, please refer to the Company’s public disclosure record available on SEDAR+ at www.sedarplus.com.
TheCanadianSecuritiesExchangeacceptsnoresponsibilityfortheadequacy or accuracyofthisrelease.
Certain statements contained in this press release constitute “forward-looking information” as such term is definedin applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”,“seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate totheCompany,areintendedtoidentifyforward-lookinginformation.Allstatementsotherthanstatementsofhistoricalfact may be forward-looking information. Such statements reflect the Company’s current views and intentions withrespecttofutureevents,andcurrentinformationavailabletothem,andaresubjecttocertainrisks,uncertaintiesandassumptions, including, without limitation: the potential of the Company’s mineral properties; the estimation ofcapital requirements; the estimation of operating costs; the timing and amount of future business expenditures; andtheavailabilityofnecessaryfinancing.Manyfactorscouldcausetheactualresults,performanceorachievementsthatmay be expressed or implied by such forward-looking information to vary from those described herein should one ormore of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economicconditionsorfinancialmarkets;increasesincosts;litigation;legislative,environmentalandotherjudicial,regulatory, political and competitive developments; andexploration or operational difficulties. This list is notexhaustive of the factors that may affect forward-looking information. These and other factors should be consideredcarefully,andreadersshouldnotplaceunduerelianceonsuchforward-lookinginformation.Shouldanyfactoraffectthe Company in an unexpected manner, or should assumptions underlying the forward-looking information proveincorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company doesnotassumeresponsibilityfortheaccuracyorcompletenessofsuchforward-lookinginformation.Theforward-lookinginformationincludedinthis pressreleaseismadeasofthedateofthispressreleaseandtheCompanyundertakes noobligationtopublicly updateorrevise any forward-looking information,otherthan asrequiredby applicable law.
