WestKam Gold Corp. Completes Over-Subscribed Non-Brokered Private Placement

Executive Summary

• WestKam Gold Corp. closed an oversubscribed non‑brokered private placement, issuing 7,142,858 units for gross proceeds of $500,000.06.
• The securities are subject to a hold period expiring June 11 2026.
• A director/officer purchased 494,715 units for $34,630.05, qualifying as a related‑party transaction exempt from certain MI 61‑101 approvals.

Key Details

• Units Issued: 7,142,858 units (non‑brokered private placement).
• Gross Proceeds: $500,000.06.
• Finder’s Fees Paid: $7,560.00.
• Hold Period: All securities issued are restricted until June 11 2026 per TSX Venture Exchange rules.
• Insider Participation: Director and officer purchased 494,715 units for $34,630.05; transaction deemed exempt from formal valuation and minority shareholder approval under MI 61‑101 sections 5.5(b) and 5.7(1)(a).
• Related Party Status: Insider purchase considered a related‑party transaction but does not exceed 25% of market capitalization, meeting exemption criteria.

Notable Quotes

“On behalf of the Board of Directors, we are pleased to announce the successful closing of this private placement, which provides us with additional capital to advance our exploration programs.” – Peter Laipnieks, President & CEO.