Westhaven Ventures (WHN-V) Closes Oversubscribed Non-Brokered Private Placement
Sept 28, '16 - NR
Westhaven Ventures is pleased to announce that it has closed the final tranche of its non-brokered private placement previously disclosed on September 9, 2016. This second and final tranche raised gross proceeds of $410,000.04 through the issuance of 3,416,667 share units of the Company.
Each unit consists of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of $0.16 for a period of 24 months from the closing date of the private placement. All securities issued pursuant to the private placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. Shares issued will become free trading on January 29, 2017.
Together with the first tranche of the private placement closed on September 21, 2016, the Company has raised, in aggregate, $873,200.04 via the issuance of 7,276,667 share units. An insider subscribed to 2,416,667 units and $19,600 in finder’s fees were paid during the first tranche.
The net proceeds from the sale of units will be used to fund exploration at the Prospect Valley and Shovelnose gold projects, and working capital.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
"Shaun Pollard"
Shaun Pollard, CFO & Director
About WesthavenVentures Inc.
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose gold and Prospect Valley gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN.
For further information, please contact
Shaun Pollard at
604-681-5521 or
visit Westhaven’s website at www.westhavenventures.com |
