Northwire Canada EditionWednesday, November 11, 2026
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Financings

West Point closes $25-million private placement

By The Northwire Desk — AI Analysis Feb 20, 2026 · 04:41 WPG · 1.26 West Point Gold Corp.
WPG · Price

Executive Summary

  • West Point Gold Corp. has closed a private placement raising approximately C$25 million in gross proceeds.
  • The financing was conducted at $1.10 per share, resulting in the issuance of 22,727,300 common shares to SCP Resource Finance LP and other agents.
  • The net proceeds are designated for the exploration and advancement of the company's Gold Chain project in Arizona, as well as for general corporate and working capital purposes.

Key Details

  • Gross Proceeds: Approximately C$25 million.
  • Share Price: $1.10 per common share.
  • Shares Issued: 22,727,300 common shares.
  • Lead Agent: SCP Resource Finance LP.
  • Other Agents: ATB Cormark Capital Markets, Red Cloud Securities Inc., Paradigm Capital Inc., and Canaccord Genuity Inc.
  • Agent Compensation (Cash):
    • Aggregate cash commission of $837,470 (5% of gross proceeds).
    • Reduced commission of 2% applied to shares sold to purchasers on the company president's list.
    • Advisory fee of $34,741.
  • Agent Compensation (Equity):
    • SCP Resource Finance and Red Cloud Securities elected to receive 50% of their cash commission in shares, totaling 264,162 shares.
    • Issuance of 1,045,456 broker warrants (equal to 5% of shares sold, excluding shares sold to the president's list).
    • Warrant Terms: Each warrant is exercisable to purchase one share at $1.10 until February 19, 2028.
  • Use of Proceeds: Exploration and advancement of the Gold Chain project in Arizona, USA, and general corporate/working capital purposes.
  • Lock-up Period: All shares, agent option shares, broker warrants, and warrant shares are subject to a statutory hold period expiring June 20, 2026.
  • Insider Participation:
    • Directors Andrew Bowering, Anthony Paterson, and Conrad Nest participated in the offering.
    • Insiders acquired 659,600 shares for a total of $725,560.
    • Transaction classified as a related-party transaction under Multilateral Instrument 61-101.
    • Exempt from formal valuation and minority shareholder approval requirements as insider participation did not exceed 25% of market capitalization.
  • Regulatory Status: Offering subject to final acceptance of the TSX Venture Exchange.
Read the original news release →

More from West Point Gold Corp.

Oct 29, 2026 · 07:02

West Point raises $4.1m through warrant exercises to fund a 30,000-metre drill program at its Gold Chain project.

Financings Oct 01, 2026 · 07:01

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West Point’s aggressive 30,000 metre drill program advances toward a maiden resource at the Gold Chain project.

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West Point extinguishes royalties on western Gold Chain targets to de-risk the project ahead of its maiden resource estimate.

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West Point reported modest shallow gold at Black Dyke, expanding district potential without significant grade or width to impact results.

Drill Results Aug 05, 2026 · 07:02

West Point’s Tyro Main infill drilling returned 30.4m at 2.31 g/t Au, confirming continuity without exploration step-outs.

Drill Results