Westmount Announces Results of AGM, Proposed Consolidation with Name Change, and Non-Brokered Private Placement
Westmount Announces Results of AGM,
Proposed Consolidation with Name Change,
and Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2026) -
Westmount Minerals Corp
.
(CSE:
WMC)
("
Westmount
") is pleased to announce the results of its annual general meeting of shareholders
(the "
Meeting
") held on June 18, 2026, and further announces a proposed change of name (the "
Name
Change
") along with a consolidation of its issued and outstanding common shares on a 4:1 basis (the
"
Consolidation
"), to be followed by a non-brokered private placement (the "
Offering
") of up to
8,370,175 post-consolidation units for aggregate gross proceeds of up to $1.005M at $0.12 (post-
consolidation). The Consolidation is expected to be completed prior to the closing of the Offering, and
completion of the Consolidation, the Name Change and the Offering remains subject to acceptance by
the Canadian Securities Exchange (the "
CSE
").
Results of the Meeting
At the Meeting, shareholders approved all matters put forward by management, including:
The re-appointment of Davidson & Company LLP as Westmount's auditor for the ensuing year,
with remuneration to be determined by the board of directors; and
The election of John R. Alcock, Bryan Atkinson and Robert L'Heureux as directors of Westmount
for the ensuing year.
Following the Meeting, Westmount's board reflects a balance of operational leadership and independent
oversight, supporting disciplined governance and long-term value creation.
Following the Meeting, David
Tafel and Jeremy Wright were re-appointed as Chief Executive Officer and Chief Financial Officer of
Westmount, respectively.
The Consolidation and Name Change
Westmount proposes to consolidate its common shares on the basis of every four (4) pre-Consolidation
common shares for one (1) post-Consolidation common share. No fractional shares will be issued and
any fractional shares of less than 0.5 will be rounded down to the nearest lower whole share and
fractional shares of 0.5 or more will be rounded up to the nearest higher whole share. The total number of
outstanding common shares will be proportionally reduced, but each shareholder's percentage
ownership in Westmount and the value of their holdings will remain unchanged, subject to adjustments for
fractional common shares. There are currently 50,909,001 common shares outstanding and it is
anticipated that, following the Consolidation, there will be approximately 12,727,250 common shares
outstanding.
Westmount proposes to change its name to "Wayfinder Metals Corp.". The Name Change aligns
Westmount's branding with its current operations and long-term strategic objectives.
The Consolidation and Name Change were approved by Westmount's directors in accordance with
Westmount's Articles.
The Offering
After completion of the Consolidation and Name Change, Westmount then proposes to complete a non-
brokered private placement of up to 8,370,175 units (the "
Units
") at a price of $0.12 per Unit, to raise
gross proceeds of up to $1.005M. Each Unit will consist of one (1) common share of Westmount and
one-half of a share purchase warrant (each whole share purchase warrant, a "
Warrant
"). Each Warrant
will be exercisable to acquire one additional common share at an exercise price of $0.20 per share for a
period of two (2) years from the date of closing of the Offering. The terms of the Offering are subject to
satisfactory notice to the CSE. No finder's fees are expected to be paid in connection with this Offering.
All securities sold pursuant to the Offering will be subject to a four-month hold period. The net proceeds
from the Offering will be used for general working capital requirements.
The securities of Westmount have not been, and will not be, registered under the U.S. Securities Act of
1933, as amended (the "
U.S. Securities Act
") or any U.S. state securities laws and 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 and applicable U.S. state securities laws. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the
securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
About Westmount Minerals Corp.
Westmount is focussed on acquiring high quality base and precious metal assets globally. For more
information, please refer to Westmount's prospectus dated February 14, 2022, available on SEDAR+
(
www.sedarplus.ca
).
For further information, please contact:
Bryan Atkinson
Executive Chair
T: (780) 437-6624
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" within the
meaning of applicable securities laws, including statements regarding the Consolidation, the Name
Change, the Offering, the timing and completion of the Consolidation, Name Change and the
Offering, and receipt of required regulatory approvals, including acceptance by the CSE. Forward-
looking statements are based on assumptions believed by Westmount to be reasonable as of the
date hereof, but are subject to known and unknown risks and uncertainties that may cause actual
results to differ materially, including risks related to market conditions, regulatory approval, and the
ability to complete the Offering on the terms contemplated or at all. Readers are cautioned not to
place undue reliance on forward-looking statements. Westmount does not undertake to update
forward-looking statements or forward-looking information, except as required by law.
Not for distribution to United States newswire services or for dissemination in the United
States.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/302162