Westward Gold Announces Private Placement and Welcomes Crescat Capital as Strategic Shareholder
Vancouver, British Columbia -- March 19, 2025 -- NewsGenie -- Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) has announced a non-brokered private placement offering of up to 32,500,000 units at C$0.08 per unit, potentially raising gross proceeds of up to C$2,600,000. Each unit includes one common share and one warrant, with each warrant allowing the holder to purchase a common share at C$0.12 for 24 months following the offering's closing.
The company is also welcoming Crescat Capital LLC as a strategic shareholder. Crescat will subscribe for 12,500,000 units, generating $1,000,000 in gross proceeds, with the option to increase its participation to 18,750,000 units for $1,500,000. Crescat's subscription will be made through Crescat Portfolio Management LLC on behalf of its investment funds.
Westward Gold intends to allocate the net proceeds from the offering primarily to fund drilling operations at its Toiyabe Hills Property in Nevada, where a 5,000-meter program is planned across up to 10 holes to test the Campfire Target Complex. The remaining funds will be used for general working capital.
The offering's closing is contingent upon regulatory approvals, including from the Canadian Securities Exchange. The issued common shares and warrants will be subject to a four-month hold period, as per securities laws. Finder’s fees may be paid to eligible parties, following CSE policies.
The securities offered have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons without registration or an applicable exemption.
Westward Gold is a mineral exploration company focused on developing the Toiyabe Hills Project in Nevada and the Coyote and Rossi Projects along the Carlin Trend in Elko County, Nevada.