WEST MINING CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT
Summary
Vancouver, BC, May 29, 2024 (GLOBE NEWSWIRE) -- West Mining Corp. (West or the Company) (CSE: WEST) (OTC: WESMF) (FRA: 1HL) is pleased to announce that it has closed its previously announced non-brokered private placement (the Financing), raising gross proceeds of $825,000 through the issuance of an aggregate of 4,125,000 units at a price of $0.20 per unit. In connection with the Financing, the Company paid finders fees of $55,889 and issued an aggregate of 215,500 finders warrants, each exercisable for one common share at a price of $0.20 until May 30, 2026. Securities issued under the Financing are subject to a four month hold period expiring September 30, 2024, in accordance with applicable Canadian securities laws. The Company intends to use the proceeds of the Financing for general working capital.The Company also announces that it has issued an aggregate of 400,000 common shares of the Company at a price of $0.39 per share as consideration for advisory services that have been and will continue to be provided to the Company by an arms length service provider. The shares are subject to a four month hold period expiring September 30, 2024, in accordance with the policies of the Canadian Securities Exchange.