WestKam Gold Corp. Increases Non-Brokered Private Placement to up to $500,000

The news release dated January 26, 2026, announces that WestKam Gold Corp. has increased the size of its previously announced (January 23, 2026) non-brokered private placement from up to $300,000 to up to $500,000. The offering consists of units priced at $0.07 each, with each unit comprising one common share and one share purchase warrant exercisable at $0.10 for 36 months. The stated use of proceeds is to pay outstanding trade payables, legal/audit/transfer agent fees, and for general working capital. The financing remains subject to TSX Venture Exchange approval.

This news has a material positive impact because it represents a critical, albeit insufficient, attempt to address the company's immediate survival risk. As of July 31, 2025, WestKam had a cash balance of only $5,326 against accounts payable and accrued liabilities of $802,314, resulting in a working capital deficiency of $739,327. A successful $500,000 financing would provide essential liquidity to settle some pressing obligations and avoid a potential cessation of operations. However, the impact is tempered by severe caveats: - The financing remains proposed; the company has a recent history of failing to complete financings (it terminated a $250,000 placement on January 20, 2026). - Even if fully raised, the proceeds are less than the total accounts payable, meaning the company will remain in a significant deficit. - The financing is highly dilutive, issued at a 12.5% discount to the recent market price, with warrants adding further future dilution.

WestKam Gold Corp. is a micro-cap junior exploration company. Its sole material asset is the Will Property, a 1,142.47-hectare early-stage exploration project in the Mount Williams area of British Columbia. The property is prospective for gold and antimony within a geological setting that includes listwanite alteration and is on trend with the Minto-Olympic shear zone. Work to date is minimal, consisting primarily of prospecting and soil sampling. The company's only other asset is $100,000 in reclamation bonds held for its formerly-owned (and lapsed) Bonaparte Gold property.