Westhaven Arranges Financing Package with Franco-Nevada Corporation ______________________________________________________________________________________
WESTHAVEN ARRANGES FINANCING PACKAGE WITH FRANCO-NEVADA
CORPORATION
______________________________________________________________________________________
Vancouver, B.C. – September 14th, 2022 – Westhaven Gold Corp. (TSX-V: WHN) (“Westhaven” or the
“Company”) is pleased to announce that it has entered into a financing arrangement with Franco -
Nevada Corporation (TSX, NYSE: FNV) (“Franco-Nevada”), the leading gold -focused royalty and
streaming company.
Westhaven has agreed to sell a 2% net smelter return royalty (the “NSR”) to Franco -Nevada for
US$6,000,000 (the “NSR Transaction”). The NSR applies to all of Westhaven’s claims across the Spences
Bridge Gold Belt ( the “SBGB”) in Southwestern British Columbia, Canada. Westhaven has an option
to buy -down 0.5% of the NSR for U S$3,000,000 for a period of 5 years from the closing of the
transaction. Westhaven has also agreed to sell to Franco-Nevada for US$750,000 the Talisker Resources
Ltd. net smelter return royalty (the “Talisker Royalty”) originally granted to Westhaven by Sable
Resources Ltd. and referenced in Westhaven’s news release dated October 16 th, 2018 (the “Talisker
Royalty Transaction”). Link to news release: Westhaven news release October 16th, 2018
In addition, Franco-Nevada has agreed to subscribe for 2,500,000 shares of the Company at a price of
CAD$0.40 for gross proceeds of CAD$1,000,000 (the “Private Placement”).
Gareth Thomas, President & CEO, comments: “We are very pleased to welcome Franco-Nevada as a
shareholder and stakeholder in Westhaven and the S pences Bridge Gold Belt. Franco-Nevada’s
investment is a major endorsement of Westhaven’s properties in Southwestern British Columbia .
Westhaven’s exploration activities across its projects are now fully financed until 2024.”
Westhaven has an ongoing drill campaign at its 100% owned 17,623-hectare Shovelnose gold property.
Shovelnose is located within the SBGB and borders the Coquihalla Highway 30 kilometres (km) south
of Merritt, British Columbia. Westhaven benefits from the B.C. Mining Exploration Tax Credit ( the
“METC”) which is a permanent incentive to support investment in mining. The METC is a refundable
B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral
exploration in B.C. and can be claimed on up to 30% of qualified mining exploration expenditures.
Westhaven can claim the full 30% METC as its properties fall within mountain pine beetle affected
areas.
TSX-V:WHN
The Private Placement remains subject to TSX Venture Exchange approval and all securities issued in
the Private Placement will be subject to a four -month hold period, during which time the securities
may not be traded. Further, each of the NSR Transaction, the Talisker Royalty Transaction and the
Private Placement remain subject to satisfaction of closing conditions customary for transactions of this
nature.
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.
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.