Westkam Gold increases placement to $500,000

Executive Summary

• Westkam Gold Corp. has increased the size of its non-brokered private placement offering from $300,000 to a maximum of $500,000 due to overwhelming investor interest.
• The company intends to sell up to 7,142,857 units at a price of $0.07 per unit, with each unit comprising one common share and one common share purchase warrant.
• Proceeds will be utilized to pay outstanding trade payables, legal and audit fees, transfer agent fees, and for general working capital.

Key Details

• Offering Size: Increased to up to $500,000 (previously $300,000).
• Units Offered: Up to 7,142,857 units.
• Price Per Unit: $0.07.
• Gross Proceeds: Up to $500,000.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant is exercisable for one common share at an exercise price of $0.10.
• Warrant Expiry: Three years from the date of issuance.
• Use of Proceeds: Payment of outstanding trade payables, legal fees, audit fees, transfer agent fees, and general working capital.
• Investor Type: Qualified purchasers.
• Regulatory Status: Offered in reliance on exemptions from prospectus and registration requirements; subject to TSX Venture Exchange (TSX-V) approval.
• Hold Period: Four months and one day from the date of issuance.
• Finder’s Fees: The company may pay finder’s fees to eligible finders as permitted by law and TSX-V policies.

Notable Quotes

• None provided in the text.