Westhaven Announces Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 4, 2017) - Westhaven Ventures Inc. (TSX VENTURE:WHN) is pleased to announce that it intends to complete a non-brokered private placement to raise gross proceeds of $600,000. The Company will sell both flow-through (FT) and non-flow-through (NFT) units.
The NFT Units are being offered at a price of $0.08 per unit. Each Unit will consist of one common share and one non-transferable warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one common share at a price of $0.10 for a period of 24 months from the closing date of the private placement. The flow-through units (the "FT Units") are to be offered at a price of $0.11 per unit. Each FT Unit will consist of one flow-through common share and one non-transferable, non-flow-through warrant (the "NFT Warrant"). Each NFT Warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.13 for a period of 24 months from the closing date of the private placement.
The Company may pay finder's fees in connection with part of this private placement offering. The net proceeds will be used to fund exploration and/or drilling at the Company's 100% owned Skoonka, Shovelnose, and Prospect Valley gold properties and for general work purposes. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded. It is anticipated that insiders of Westhaven will participate in the private placement on the same terms and conditions as arm's length subscribers.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Shaun Pollard, Director & CFO
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, Prospect Valley and Skoonka gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please visit Westhaven's website at www.westhavenventures.com.
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.
