Westhaven Completes Oversubscribed Non-Brokered Private Placement of Flow-Through Common Shares ______________________________________________________________________________________
WESTHAVEN COMPLETES OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT
OF FLOW-THROUGH COMMON SHARES
______________________________________________________________________________________
Vancouver, B.C. – July 29th, 2022 – Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce that
it has now closed the previously announced non -brokered private placement. The Company issued a
total of 9,739,847 common shares that qualify as “flow -through shares” of the Company for the
purposes of the Income Tax Act (Canada) (the “Flow -Through Common Shares”) at a price of C$0. 44
per Flow-Through Common Share for aggregate gross proceeds of $4,285,533.
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.
The private placement remains subject to TSX Venture Exchange approval. The Company paid finders’
fees of $39,001 to Red Cloud Securities Inc., $18,876 to National Bank Financial Inc., and $1,320 to
Haywood Securities Inc. All securities issued in the Offering are subject to a hold period expiring on
November 30th, 2022.
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
TSX-V:WHN
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 sel l 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.