Westhaven Closes First Tranche of Non-Brokered Private Placement ______________________________________________________________________________________
WESTHAVEN CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
______________________________________________________________________________________
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Vancouver, B.C. – October 4th, 2019 – Westhaven Ventures Inc. (TSX-V:WHN) is pleased to
announce that it has closed the first tranche of its non-brokered private placement previously
announced on September 17th, 2019.
This tranche raised gross proceeds of $3,595,289 through the issuance of 3,424,085 share units. Each
unit is comprised of one common share and one non-transferable half warrant (the “half warrant”).
Each full warrant entitles the holder to purchase one common share at a price of $1.50 for a period of
24 months from the closing date of the private placement.
Proceeds of the private placement will be used for funding the expansion of the ongoing work
program at the Shovelnose gold property, working capital purposes and/or work related to the
company's portfolio of properties located in British Columbia, Canada.
In connection with closing the first tranche, the Company paid cash finder's fees to registered brokers
totalling $84,105. All securities issued pursuant to the offering will be subject to a statutory hold
period expiring on February 3, 2020 in accordance with applicable securities laws.
Westhaven benefits from the B.C. Mining Exploration Tax Credit (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 is worth
30% of qualified mining exploration expenditures.
The securities described herein 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
accordingly, may not be offered or sold within the United States except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
"Shaun Pollard"
Shaun Pollard, Director & CFO
About Westhaven:
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, British Columbia. Westhaven controls 350
square kilometres with four 100% owned gold properties spread along this underexplored belt. The Shovelnose
property is situated off a major highway, in close proximity to power, rail, large producing mines, and within
commuting distance from the city of Merritt, which translates into low cost exploration.
Westhaven is committed to the highest standards of environmental and social responsibility with a focus on
generating positive outcomes and returns to all stakeholders. Westhaven trades on the TSX Venture Exchange
under the ticker symbol WHN.
For further information, please call 604-681-5521, email [email protected] or visit Westhaven’s
website at www.westhavenventures.com .