Westhaven Announces $3,000,000 Non-Brokered Private Placement ______________________________________________________________________________________
WESTHAVEN ANNOUNCES $3,000,000 NON-BROKERED PRIVATE PLACEMENT
______________________________________________________________________________________
Vancouver, B.C. – July 25th, 2022 – Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that
it has arranged to issue, on a non-brokered private placement basis, up to 6,818,182 flow-through (FT)
common shares of the Company at a price of $0.44 per FT share for gross proceeds of up to $3,000,000.
The gross proceeds from the Offering will be used to incur “Canadian exploration expenses” (within
the meaning of the Income Tax Act (Canada)) related to Westhaven’s projects in British Columbia,
Canada. The Company will renounce these expenses to the purchasers with an effective date of no later
than December 31, 2022.
Existing directors and officers of Westhaven may choose to participate in the private placement.
Participation of insiders of the company in the private placement constitutes a related-party transaction
as defined under Multilateral Instrument 61-101. Because the Company's shares trade only on the TSX
Venture Exchange, the issuance of securities is exempt from the formal valuation requirements of
Section 5.4 of MI 61- 101 pursuant to Subsecti on 5.5(b) of MI 61 -101 and exempt from the minority
approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(a) of MI 61-101.
The private placement is subject to TSX Venture Exchange approval. Westhaven may pay finders' fees
to eligible finders, as permitted by applicable securities laws and the rules of the TSX -V. All securities
issued in the Offering are subject to a four -month hold period, during which time the securities may
not be traded.
On behalf of the Board of Directors
WESTHAVEN GOLD CORP.
"Shaun Pollard"
Shaun Pollard, CFO
Tel: 1.604.681.5558 Ext: 103
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.
TSX-V:WHN
This new release contains forward -looking statements. These statements are based on current
expectations and assumptions that are subject to risks and uncertainties. Actual results could differ
materially because of factors discussed in the management discussion and analysis section of our
interim and most recent annual financial statements or other reports and filings with the TSX Venture
Exchange and applicable Canadian securities regulators. We do not assume any obligation to update
any forward-looking statements, other than as required by securities laws.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and
may not be offered or sold within the United States or to or for the account or benefit of a U.S. person
(as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such registration is available.
About Westhaven Gold Corp.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project
in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square
kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property
is situated off a major highway, near power, rail, large producing mines, and within commuting distance from
the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange
under the ticker symbol WHN. For further information, please call 604 -681-5558 or visit Westhaven’s website
at www.westhavengold.com.