Westhaven Gold Corp. has successfully closed a non-brokered private placement, raising gross proceeds of $3.16 million. The offering involved the sale of 8,333,333 units at $0.12 per unit and 12,500,000 flow-through units on a charitable basis at $0.1728 per unit. Proceeds will support exploration work within the Spences Bridge Gold Belt in British Columbia, including an expanded drilling program at the Shovelnose gold project. Each unit includes one common share and a half warrant, allowing holders to purchase an additional share for $0.18 by July 3, 2027. A finder's fee was paid to Red Cloud Securities Inc. Eric Sprott and Earthlabs Inc. participated in the offering. The funds raised through flow-through units will be used for Canadian exploration expenses, qualifying as flow-through mining expenditures under Canadian law.
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