Closes C$15 Million Bought Deal Public Offering
Westhaven Gold Corp. (TSXV:WHN) has closed a bought deal financing for gross proceeds of C$14,964,950.
The net proceeds from the Offering will be used to fund the exploration and development of the company’s mining properties in British Columbia including Shovelnose, drilling to complete a maiden resource estimate, working capital and general corporate purposes.
Westhaven benefits from the B.C. Mining Exploration Tax Credit (METC) which is a permanent incentive to support investment in mining. The METC is a refundable B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in B.C. and is worth 30% of qualified mining exploration expenditures.
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt.
The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration.