WestKam Gold Corp. Announces Closing of Private Placement and Director Change
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VANCOUVER, British Columbia, Nov. 11, 2020 (GLOBE NEWSWIRE) -- WestKam Gold Corp. (TSX-V: WKG) (the “Company” or “WestKam”), announces that it has completed the closing of its non-brokered $0.12/unit private placement previously announced on September 28, 2020, and has issued 8,125,331 units for gross proceeds of $975,039.72. In connection with this private placement, the Company paid a total of $7,912.80 and issued a total of 65,940 warrants as finder’s fees. Each finder’s warrant is exercisable for one common share at a price of $0.20 for 5 years. All securities issued under this financing are subject to a hold period expiring March 11, 2021, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
WestKam is also very pleased to announce the appointment of Mr. Catalin Kilofliski to the Board of Directors of the Company as an independent director. Mr. Kilofliski has over 25 years of senior leadership and extensive expertise in mining, senior management, capital markets and corporate development within several publicly listed junior exploration companies. Most recently, he has served as the Director Corporate Development for TSX.V listed Tudor Gold Corp and was instrumental in growing the company from $30 million to over $500 million in market capitalization. Prior to that, he was the CEO of TSX Listed Canarc Resource Corp. Before that position, he worked for TSX listed Aurcana Corporation and Selwyn Resources Ltd. as Director Corporate Development. In the last decade, Mr. Kilofliski helped raise over $300M in equity, debt and JV capital and was instrumental in creating significant shareholder value for various junior mining companies. Mr. Kilofliski’s academic background includes earning a BA degree in Business Administration and Finance from the University of Economics, Bucharest, Romania.
The Company also announces that Mr. Peter Jensen has resigned as a director of the Company. The Company would like to thank Mr. Jensen for his contributions to the Company and wish him well in his future endeavours.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About WestKam Gold Corp.
WestKam is a Canadian gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information can be found on the Company’s website at www.westkamgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Matthew Wayrynen”
Matthew Wayrynen, President & CEO
| WestKam Gold Corp. Suite 900, 570 Granville Street Vancouver, BC V6C 3P1 | Contact: | Investor Relations ir@westkamgold.com www.westkamgold.com | ||
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events
