Western Gold Announces Non-Brokered Private Placement
Western Gold Announces Non-Brokered
Private Placement
North Berwick, Scotland--(Newsfile Corp. - April 17, 2025) -
WESTERN GOLD EXPLORATION LTD.
(TSXV: WGLD)
(the "
Company
") announces that it intends to complete a non-brokered private
placement of up to 14,285,714 equity units of the Company ("
Units
") at a price of CAD$0.07 per Unit for
gross proceeds of up to CAD$1,000,000 (the "
Private Placement
").
Each Unit will be comprised of one (1) common share of the Company and one-half of one (1/2)
common share purchase warrant of the Company (a "
Warrant
"). Each whole Warrant will entitle the
holder to acquire one (1) common share of the Company for a period of 18 months from the date of
issuance of the Warrant, at an exercise price of CAD$0.10 per share.
The Private Placement is subject to the approval of the TSX Venture Exchange (the "
Exchange
"). The
securities issued in connection with the Private Placement will be subject to a four-month hold period, in
accordance with applicable securities laws.
The Company intends to use the proceeds from the Private Placement towards exploration drilling
programs and related work on its mining properties and for general and administrative expenses.
The Company may pay a commission or finder's fee to eligible parties in connection with the Private
Placement, subject to the approval of the Exchange and compliance with applicable securities laws.
About Western Gold Exploration
The Company is a mineral exploration company that is listed on the TSX Venture Exchange under the
symbol "WGLD". The Company is focused on the exploration of mineral properties in Scotland and
discovering new opportunities across the underexplored Caledonian Appalachian and identifying
locations of gold and critical metal deposits. The Company's principal focus is its Lorne Project, which
includes the Lagalochan copper gold porphyry property located in Argyll, Scotland (the "
Lagalochan
Property
"), and the adjacent and nearby properties along the Lorne Fault Zone.
On 29 November 2022, the Company filed a National Instrument 43-101 -
Standards of Disclosure for
Mineral Projects
compliant, independent Technical Report (the "
Technical Report
") on the Lagalochan
Property. The Technical Report and additional information about the Company are available on
SEDAR+ at
www.sedarplus.ca
under the Company's profile and on the Company's website:
www.westerngoldexploration.com
.
For further information, please contact:
Ross McLellan, CEO
Phone:
+44 7779 161441
Email:
Website:
www.westerngoldexploration.com
This press release is not an offer of the Company's securities for sale in the United States. The
Company's securities may not be offered or sold in the United States absent registration or an
available exemption from the registration requirements of the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act") and applicable U.S. state securities laws. The Company will
not make any public offering of its securities in the United States. The Company's securities
have not been and will not be registered under the U.S. Securities Act.
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 these securities, in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect to
completion of the proposed Private Placement, the anticipated use of proceeds of the Private
Placement, timing and completion of any drilling and work programs on the Company's properties,
estimates of mineralization from drilling, geological information projected from drilling results,
potential for minerals and/or mineral resources, and statements regarding the plans, intentions,
beliefs, and current expectations of the Company with respect to the future business activities and
operating performance of the Company that may be described herein. Forward-looking statements
consist of statements that are not purely historical, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such information can generally be identified by the
use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe"
and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no assurance that the plans, intentions or
expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to the possibility that the predictions,
estimates, forecasts, projections and other forward-looking statements will not occur. These
assumptions, risks and uncertainties include, among other things, the state of the economy in general
and capital markets in particular, accuracy of assay results, geological interpretations from drilling
results, timing and amount of capital expenditures; performance of available laboratory and other
related services, future operating costs, and the historical basis for current estimates of potential
quantities and grades of target zones, as well as those risk factors discussed or referred to in the
Company's Management's Discussion and Analysis for the year ended December 31, 2023, and the
period ended September 30, 2024 available at
www.sedarplus.ca
many of which are beyond the
control of the Company. Forward-looking statements contained in this press release are expressly
qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press
release. Except as required by law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY
WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES
LAWS
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https://www.newsfilecorp.com/release/248941