Westward Gold Expands Private Placement Following Strong Demand
Vancouver, British Columbia -- March 26, 2025 -- NewsGenie -- Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) has announced an increase to its previously announced non-brokered private placement due to high demand. The company now aims to issue up to 45,000,000 units at C$0.08 each, potentially raising gross proceeds of up to C$3,600,000.
Each unit will include one common share and one common share purchase warrant. A warrant allows the holder to buy a common share at C$0.12 within 24 months of the offering's closing date.
Strategic investor Crescat Capital LLC plans to subscribe for 12,500,000 units, investing $1,000,000, with the option to increase their investment to $1,500,000 for 18,750,000 units.
The funds raised will primarily support drilling at Westward’s Toiyabe Hills Property in Nevada, focusing on the Campfire Target Complex with a 5,000-meter program. A portion will also be used for general working capital. The offering's completion awaits regulatory approvals, including from the Canadian Securities Exchange. Shares and warrants issued will be subject to a four-month hold period, and finder’s fees may be paid.
Westward Gold is a mineral exploration company focused on its Toiyabe Hills Project in Nevada, as well as the Coyote and Rossi Projects. The Company may also evaluate the acquisition of other mineral exploration assets and opportunities.