{"id":36192,"date":"2023-12-16T13:43:05","date_gmt":"2023-12-16T13:43:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/west-mining-closes-private-placement\/"},"modified":"2023-12-16T13:43:05","modified_gmt":"2023-12-16T13:43:05","slug":"west-mining-closes-private-placement","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/west-mining-closes-private-placement\/","title":{"rendered":"WEST MINING CLOSES PRIVATE PLACEMENT"},"content":{"rendered":"
\n

Vancouver, BC, Dec. 15, 2023 (GLOBE NEWSWIRE) — West Mining Corp. <\/strong>(\u201cWest\u201d or the \u201cCompany\u201d) (CSE: WEST) (OTC: WESMF) <\/strong>is pleased to announce that it has closed its previously announced non-brokered private placement (the \u201cFinancing\u201d), raising gross proceeds of $150,000 through the issuance of 3,000,000 units at a price of $0.05 per unit. Each unit consists of one common share and one transferable share purchase warrant, with each warrant entitling the holder to purchase one common share at an exercise price of $0.065 until December 15, 2025. Securities issued under the Financing are subject to a four month hold period in accordance with applicable Canadian securities laws, which expires April 16, 2024.<\/p>\n

The Company intends to use the proceeds of the Financing for general working capital. No finder\u2019s fees were paid in connection with the Financing.<\/p>\n

The Company also announces that it will not be proceeding with its previously announced settlement of $37,500 of debt owed to an arm\u2019s length third party. The debt will remain on the Company\u2019s books, and the Company and the third party intend to explore options to repay or otherwise settle the debt in early 2024.<\/p>\n

Nader Vatanchi, the Company\u2019s CEO, said \u201cwe are pleased to close this financing as we look ahead to next year. Management and the board of directors decided to limit the amount of the financing to $150,000 and to not proceed with the debt settlement in order to reduce dilution to existing shareholders. Management and the board of directors intend to consider a number of strategic initiatives in early 2024, including possibly a follow-on financing transaction and\/or a debt settlement transaction. We look forward to providing further updates in due course.\u201d<\/p>\n

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the \u201cU.S. Securities Act\u201d), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or \u201cU.S. Persons\u201d, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.<\/em><\/p>\n

About<\/u> West<\/u> Mining<\/u> Corp.<\/u><\/p>\n

West\u00a0Mining\u00a0Corp.\u00a0is\u00a0a\u00a0mineral\u00a0exploration\u00a0company\u00a0acquiring\u00a0and\u00a0developing advanced and early-stage\u00a0exploration\u00a0projects.\u00a0\u00a0It\u00a0is\u00a0fully\u00a0focused\u00a0on\u00a0its 100% owned, 9000 hectare prospective Kena Project located near Nelson, British Columbia. The Kena Project comprises three adjoining Properties:\u00a0 Kena, Daylight and Athabasca.\u00a0 A recent NI43-101 resource estimate for Kena gave 561,900 oz Au indicated and 2,773,100 oz Au inferred in the Gold Mountain, Kena Gold and Daylight Zones. The Kena Property also hosts the large Kena Copper Zone, along with with the historic Euphrates and Gold Cup gold-silver mines. The Daylight property contains the historic past producing Daylight, Starlight, Victoria, Irene and Great Eastern gold mines.\u00a0\u00a0Along\u00a0trend to the north is the Athabasca Property, with the historic Athabasca Gold Mine.\u00a0 The historic mines and known mineralized zones on these three properties are structurally controlled along a 20 kilometre strike as identified by strong geophysical signatures.<\/p>\n

For additional information, please refer to the Company\u2019s public disclosure record available on SEDAR+ at www.sedarplus.com<\/a>.<\/p>\n

West Mining Corp.<\/p>\n

Nader Vatanchi<\/p>\n

CEO<\/p>\n

nadervatanchi@hotmail.com<\/p>\n

###<\/p>\n

The<\/em><\/strong> Canadian<\/em><\/strong> Securities<\/em><\/strong> Exchange<\/em><\/strong> accepts<\/em><\/strong> no<\/em><\/strong> responsibility<\/em><\/strong> for<\/em><\/strong> the<\/em><\/strong> adequacy or<\/em><\/strong>\u00a0accuracy<\/em><\/strong> of<\/em><\/strong> this<\/em><\/strong> release<\/em><\/strong>.<\/em><\/p>\n

Certain statements contained in this press release constitute \u201cforward-looking information\u201d as such term is defined<\/em> in applicable Canadian securities legislation. The words \u201cmay\u201d, \u201cwould\u201d, \u201ccould\u201d, \u201cshould\u201d, \u201cpotential\u201d, \u201cwill\u201d,<\/em> \u201cseek\u201d, \u201cintend\u201d, \u201cplan\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cestimate\u201d, \u201cexpect\u201d and similar expressions as they relate to<\/em> the<\/em> Company,<\/em> are<\/em> intended<\/em> to<\/em> identify<\/em> forward-looking<\/em> information.<\/em> All<\/em> statements<\/em> other<\/em> than<\/em> statements<\/em> of<\/em> historical<\/em> fact may be forward-looking information. Such statements reflect the Company\u2019s current views and intentions with<\/em> respect<\/em> to<\/em> future<\/em> events,<\/em> and<\/em> current<\/em> information<\/em> available<\/em> to<\/em> them,<\/em> and<\/em> are<\/em> subject<\/em> to<\/em> certain<\/em> risks,<\/em> uncertainties<\/em> and<\/em> assumptions, including, without limitation: the potential of the Company\u2019s mineral properties; the estimation of<\/em> capital requirements; the estimation of operating costs; the timing and amount of future business expenditures; and<\/em> the<\/em> availability<\/em> of<\/em> necessary<\/em> financing.<\/em> Many<\/em> factors<\/em> could<\/em> cause<\/em> the<\/em> actual<\/em> results,<\/em> performance<\/em> or<\/em> achievements<\/em> that<\/em> may be expressed or implied by such forward-looking information to vary from those described herein should one or<\/em> more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic<\/em> conditions<\/em> or<\/em> financial<\/em> markets;<\/em> increases<\/em> in<\/em> costs;<\/em> litigation;<\/em> legislative,<\/em> environmental<\/em> and<\/em> other<\/em> judicial,<\/em> regulatory, political and competitive developments; and<\/em> exploration or operational difficulties. This list is not<\/em> exhaustive of the factors that may affect forward-looking information. These and other factors should be considered<\/em> carefully,<\/em> and<\/em> readers<\/em> should<\/em> not<\/em> place<\/em> undue<\/em> reliance<\/em> on<\/em> such<\/em> forward-looking<\/em> information.<\/em> Should<\/em> any<\/em> factor<\/em> affect<\/em> the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove<\/em> incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-<\/em> looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does<\/em> not<\/em> assume<\/em> responsibility<\/em> for<\/em> the<\/em> accuracy<\/em> or<\/em> completeness<\/em> of<\/em> such<\/em> forward-looking<\/em> information.<\/em> The<\/em> forward-looking<\/em> information<\/em> included<\/em> in<\/em> this press<\/em> release<\/em> is<\/em> made<\/em> as<\/em> of<\/em> the<\/em> date<\/em> of<\/em> this<\/em> press<\/em> release<\/em> and<\/em> the<\/em> Company<\/em> undertakes no<\/em> obligation<\/em> to<\/em> publicly update<\/em> or<\/em> revise any forward-looking information,<\/em> other<\/em> than as<\/em> required<\/em> by applicable law.<\/em><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

Vancouver, BC, Dec. 15, 2023 (GLOBE NEWSWIRE) — West Mining Corp. (\u201cWest\u201d or the \u201cCompany\u201d) (CSE: WEST) (OTC: WESMF) is pleased to announce that it has closed its previously announced non-brokered private placement (the \u201cFinancing\u201d), raising gross proceeds of $150,000 through the issuance of 3,000,000 units at a price of $0.05 per unit. Each unit […]<\/p>\n","protected":false},"author":2,"featured_media":36193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/e345506b-dc58-44ca-b340-61d46377a893","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-36192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/36192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=36192"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/36192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/36193"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=36192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=36192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=36192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}