VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 21, 2016) - Westhaven Ventures Inc. (TSX VENTURE:WHN) is pleased to announce that it has closed the first tranche of its non-brokered private placement previously disclosed on September 9, 2016. This tranche raised gross proceeds of $463,200 through the issuance of 3,860,000 share units at a price of $0.12 per unit.
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 21, 2017. An insider purchased 416, 667 units of this private placement. The Company paid finder's fees of $19,600 in connection with this private placement.
The net proceeds from the sale of units will be used to fund exploration at both the Prospect Valley gold and Shovelnose gold projects, and working capital.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Shaun Pollard, CFO & Director
About Westhaven Ventures 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.
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.
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