ENP Newswire -
Release date- 24062014 -
The Company intends to issue up to 2,500,000 flow-through Units (the 'FT-Units'). The FT-Units are being offered at a price of
In addition to FT-Unit offering, the Company intends to issue up to 1,000,000 Units (the 'Units') at a price of
The transaction is subject to regulatory approval. The Company may pay up to 8% in finder's fees payable in cash in connection with part of this private placement offering.
The net proceeds will be used to fund near-term drill programs at the BEN and Shovelnose properties, and for general work purposes.
Shovelnose Gold Property
The Company was recently granted a 12-month work extension by the Optionor of the Shovelnose gold project. This provides Westhaven with an additional 12-month period to meet its 3rd year work commitment on the property and satisfy the requirements of the option agreement.
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