- Western Gold Exploration (WGLD) has announced a non-brokered private placement for gross proceeds of up to C$1,000,000
- The company will issue up to 6,666,666 units at $0.15 per unit
- Net proceeds will be used to fund exploration drilling programs and related work on its mining properties
- Western Gold is a mineral exploration company focused on mineral properties in Western Scotland and the Dalradian Belt
- Western Gold Exploration Ltd. (WGLD) opened trading at C$0.15
Western Gold Exploration (WGLD) has announced a non-brokered private placement for gross proceeds of up to C$1,000,000.
The company will issue up to 6,666,666 units at $0.15 per unit. The company has the option to increase the size of the offering by up to an additional 1,000,000 units, for potential gross proceeds of up to $1,150,000.
Each unit will consist of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional share for a period of 12 months.
The private placement is subject to the approval of the TSX Venture Exchange.
All securities issued will be subject to a four-month hold period, in accordance with applicable securities laws.
Net proceeds will be used to fund exploration drilling programs and related work on its mining properties and for general and administrative expenses.
Western Gold is a mineral exploration company focused on mineral properties in Western Scotland and the Dalradian Belt, targeting historic gold-silver and copper-lead mines with the potential to develop a mineral resource. Prospects include the Stronchullin mine, Gossan Burn and Allt Dearg which are all located in the Knapdale Project area.
Western Gold Exploration Ltd. (WGLD) opened trading at C$0.15.