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Financings

Westhaven closes $3M private placement with Dundee

By The Northwire Desk — AI Analysis Jan 03, 2026 · 03:21 DC · 3.93 Dundee Corp
DC · Price

Executive Summary

  • Westhaven Gold Corp. has closed a private placement financing with Dundee Corp., raising $3 million in gross proceeds.
  • Dundee Corp. received 12 million common shares at a price of $0.25 per share.
  • Proceeds are designated primarily for exploration and drilling activities, with specific allocations for property maintenance and working capital.

Key Details

  • Transaction Structure: Private placement closed with Dundee Corp.
  • Shares Issued: 12,000,000 common shares of Westhaven Gold Corp.
  • Price Per Share: $0.25 CAD
  • Gross Proceeds: $3,000,000 CAD
  • Use of Proceeds:
    • Up to $2,000,000 for exploration activities (majority allocated to drilling).
    • $500,000 to maintain properties in good standing as needed.
    • Remaining proceeds for general working capital.
  • Resale Restrictions: Common shares are subject to applicable resale restrictions under Canadian securities legislation and TSX Venture Exchange policies.
  • Company Profile: Westhaven is a gold-focused exploration and development company targeting low-sulphidation, high-grade, epithermal-style gold mineralization in the Spences Bridge gold belt, Southern British Columbia.
  • Project Status (Shovelnose Gold Project):
    • Most advanced property within the company's portfolio.
    • Recently updated 2025 Preliminary Economic Assessment (PEA) released.
    • Production Profile: 11-year underground mine life with average annual production of 56,000 ounces of gold and 313,000 ounces of silver.
    • Financial Metrics (Base Case):
      • $454 million after-tax Net Present Value (NPV) at a 6% discount rate.
      • 43.2% Internal Rate of Return (IRR).
    • Base Case Assumptions:
      • Gold: $2,400 USD/oz.
      • Silver: $28 USD/oz.
      • Exchange Rate: CAD 1.00 = USD 0.72.
  • Qualified Person: Robin Hopkins, PGeol, Vice-President, Exploration, reviewed and approved the technical and scientific information.
Read the original news release →

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