West Point Gold Completes C$25 Million Financing

Executive Summary

• West Point Gold Corp. closed a private placement raising approximately C$25 million for 22,727,300 common shares at C$1.10 per share.
• The net proceeds are earmarked for exploration and advancement of the Gold Chain Project in Arizona, plus general corporate and working‑capital purposes.
• Agents received cash commissions, advisory fees, and were issued broker warrants; insiders purchased 659,600 shares, constituting a related‑party transaction exempt from formal valuation approval.

Key Details

• Offering Size: Aggregate gross proceeds of ~C$25 million.
• Shares Issued: 22,727,300 common shares at C$1.10 per share.
• Lead Agent: SCP Resource Finance LP; co‑agents ATB Cormark Capital Markets, Red Cloud Securities Inc., Paradigm Capital Inc., Canaccord Genuity Inc.
• Agent Compensation:
• Cash commission of C$837,470 (5% of gross proceeds), reduced to 2% for shares sold on the President’s List.
• SCP Resource Finance LP and Red Cloud Securities each elected to receive 50% of their cash commission in shares (264,162 shares total).
• Advisory fee paid: C$34,741.
• Broker Warrants: 1,045,456 warrants issued (5% of shares sold, excluding President’s List), exercisable at C$1.10 per share until 19 Feb 2028.
• Insider Participation: Directors Andrew Bowering, Anthony Paterson, and Conrad Nest bought 659,600 shares for C$725,560; transaction deemed exempt under MI 61‑101 provisions (≤25% of market cap).
• Use of Proceeds: Primarily to fund exploration and development of the Gold Chain Project in Arizona, with remaining funds for general corporate and working‑capital needs.
• Statutory Hold Period: All shares, agent option shares, and warrants subject to hold until 20 June 2026 under Canadian securities law.
• Regulatory Condition: Offering remains subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)