West Mining Corp. Closes Financing
WEST MINING CORP. CLOSES FINANCING
Not for distribution to United States newswire services or for dissemination in the United States.
Vancouver, B.C. – December 16th, 2020 – West Mining Corp. (“ West” or the “Company ”) (CSE:
WEST) ( OTC: WESMF) is pleased to announce that it has closed its previously announced private
placement financing (see West’s press release November 11, 2020 ) for gross proceeds of $3,000,000
through the issuance of 16,666,667 units (each, a “Unit”) at a price of $0.18 per Unit . E ach Unit is
comprised of one common share and one -half of one common share purchase warrant , with e ach whole
warrant exercisable for one common share at an exercise price of $0.35 for two years from the date of
issuance. The securities issued under the private placement are subject to a four month hold period which
expires April 16, 2021. The proceeds of the financing will be used for general working capital.
Under the private placement the Company paid aggregate cash finder’s fees of $129,905.11 and issued an
aggregate of 721,695 finder’s warrants, each exercisable for one common share for two years at a price of
$0.35 per share.
“We are extremely pleased with the level of interest in our offering and look forward to closing on the
Kena/Daylight Gold acquisition as previously announced,” states CEO Luke Montaine. “The C ompany is
also currently reviewing a number of gold, silver and copper assets in established mining jurisdictions
throughout Canada and the United States.”
The Company also announced that it would be conducting a follow -on private placement financing for
gross proceeds of up to $400,000 through the issuance of up to 2,133,333 units (each, a “Unit”) at a price
of $0.1875 per Unit. Each Unit will be comprised of one common share and one -half of one transferable
common share purchase warrant, with each whole warrant exercisable for one common share at an exercise
price of $0.35 for two years from the date of issuance.
The securities being offered under the private placement have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States
or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would
be unlawful.
About West Mining Corp.
West Mining Corp. is a mineral exploration company focused on the Kagoot Brook Property located near
Bathhurst, New Brunswick, comprised of one mineral tenure covering 4,233 hectares. For additional
information, please refer to the Company’s public disclosure record available on SEDAR at
www.sedar.com.
West Mining Corp.
Luke Montaine
Chief Executive Officer
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Certain statements contained in this press release constitute “forward-looking information” as such term
is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”,
“potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar
expressions as they relate to the Company , are intended to identify forward -looking information. All
statements other than statements of historical fact may be forward -looking information. Such state ments
reflect the Company’s current views and intentions with respect to future events, and current information
available to them, and are subject to certain risks, uncertainties and assumptions, including, without
limitation: the potential of the Company’s mineral properties; the estimation of capital requirements; the
estimation of operating costs; the timing and amount of future business expenditures; and the availability
of necessary financing. Many factors could cause the actual results, performance or achievements that may
be expressed or implied by such forward -looking information to vary from those described herein should
one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes
in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and
other judicial, regulatory, political and competitive developments; and exploration or operational
difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and
other factors should be considered carefully, and readers should not place undue reliance on such forward-
looking information. Should any factor affect the Company in an unexpected manner, or should
assumptions underlying the forward-looking information prove incorrect, the actual results or events may
differ materially from the results or events predicted. Any such forward -looking information is expressly
qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility
for the accuracy or completeness of such forward -looking information. The forward-looking information
included in this press release is made as of the date of this press release and the Company undertakes no
obligation to publicly update or revise any forward -looking information, other than as required by
applicable law.