{"id":446416,"date":"2021-02-26T19:15:43","date_gmt":"2021-02-27T00:15:43","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=446416"},"modified":"2021-02-26T19:15:43","modified_gmt":"2021-02-27T00:15:43","slug":"west-mining-corp-closes-over-subscribed-financing-for-6600000","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/west-mining-corp-closes-over-subscribed-financing-for-6600000\/","title":{"rendered":"West Mining Corp. Closes Over-Subscribed Financing for $6,600,000"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>Not<\/em><br \/>\n        <em>for<\/em><br \/>\n        <em>distribution<\/em><br \/>\n        <em>to<\/em><br \/>\n        <em>United<\/em><br \/>\n        <em>States<\/em><br \/>\n        <em>newswire<\/em><br \/>\n        <em>services<\/em><br \/>\n        <em>or<\/em><br \/>\n        <em>for<\/em><br \/>\n        <em>dissemination<\/em><br \/>\n        <em>in<\/em><br \/>\n        <em>the<\/em><br \/>\n        <em>United<\/em><br \/>\n        <em>States<\/em><br \/>\n        \n      <\/p>\n<p align=\"justify\">VANCOUVER, British Columbia, Feb.  26, 2021  (GLOBE NEWSWIRE) &#8212; <strong>West Mining Corp. <\/strong>(\u201cWest\u201d or the \u201cCompany\u201d) <strong>(CSE: WEST, OTC: WESMF, FRA: 1HL) <\/strong>is pleased to announce that it has closed its previously announced private placement financing (see the Company\u2019s press release dated February 9, 2021). Under the financing, West has raised gross proceeds of $6,674,252 through the issuance of 11,248,500 units (each, a \u201cUnit\u201d) at a price of $0.40 per Unit and of 4,182,415 flow-through units (each, a \u201cFT Unit\u201d) at a price of $0.52 per FT Unit . Each Unit is comprised of one common share and one common share purchase warrant, each warrant exercisable for a common share at an exercise price of $0.60 for two years (subject to acceleration in certain circumstances). Each FT Unit is comprised of one flow-through common share and one common share purchase warrant, each warrant exercisable for a common share at an exercise price of $0.78 for one year (subject to acceleration in certain circumstances).<\/p>\n<p align=\"justify\">\u201cThe Company is extremely pleased with the appetite shown for the financing, and wish to thank all who participated,\u201d commented Nicholas Houghton, President and CEO of West.<\/p>\n<p align=\"justify\">Under the financing, the Company paid a corporate finance fee of $10,000, paid aggregate finder\u2019s fees of $446,139 and issued an aggregate of 1,029,655 finder\u2019s warrants. 563,080 of the finder\u2019s warrants are exercisable for a Unit at an exercise price of $0.40 for two years; 177,600 of the finder\u2019s warrants are exercisable for a common share at an exercise price of $0.40 for two years; 137,028 of the finder\u2019s warrants are exercisable for a unit (each comprised of one common share and one warrant exercisable for a common share at an exercise price of $0.78 for one year) at an exercise price of $0.52 for two years; and 151,947 of the finder\u2019s warrants are exercisable for a common share at an exercise price of $0.52 for two years.<\/p>\n<p align=\"justify\">The securities issued under the private placement are subject to a four month hold period which expires June 27, 2021. The proceeds of the financing will be used for general working capital and for the exploration of the Company\u2019s Kena Project, British Columbia.<\/p>\n<p align=\"justify\">\n        <em>The securities offered under the private placement have not been, nor will they be, registered<\/em><br \/>\n        <em>under the United States Securities Act of 1933, as amended, and may not be offered or sold in<\/em><br \/>\n        <em>the United States or to, or for the account or benefit of, U.S. persons absent registration or an<\/em><br \/>\n        <em>applicable exemption from the registration requirements. This press release shall not constitute<\/em><br \/>\n        <em>an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in<\/em><br \/>\n        <em>any<\/em><br \/>\n        <em>State in<\/em><br \/>\n        <em>which such<\/em><br \/>\n        <em>offer,<\/em><br \/>\n        <em>solicitation or sale would<\/em><br \/>\n        <em>be unlawful.<\/em>\n      <\/p>\n<p align=\"justify\">The Company has also issued an aggregate of 1,500,000 stock options to certain directors and consultants of the Company. Each option is exercisable for one common share at an exercise price of $1.10 per share for 10 years.<\/p>\n<p>\n        <u>About<\/u><br \/>\n        <u>West<\/u><br \/>\n        <u>Mining<\/u><br \/>\n        <u>Corp.<\/u>\n      <\/p>\n<p align=\"justify\">West Mining Corp. is a mineral exploration company acquiring &amp; developing advanced and prospective early-stage exploration projects. It is mainly focused on its Kena project in the Nelson Mining District of South Eastern British Columbia, with two other properties in British Columbia and one near Bathhurst, New Brunswick.<\/p>\n<p align=\"justify\">For additional information, please refer to the Company\u2019s public disclosure record available on SEDAR at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7S2HsGJ4UG4ZMJQnVQjJjJMCdrHXes4ao5rJmRSYWhDkqALicMhajWdV3AL76Wxk67wIQWFpuMqPt9kHIvJ-jA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.sedar.com<\/u><\/a>.<\/p>\n<p>\n        <strong>West Mining Corp.<\/strong><br \/>\n        <br \/>Nicholas Houghton <br \/>President &amp; CEO <br \/><u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=l1xmNX2ChVXE1hPln5noqDynDqkQ6rwKkx8eQwIMn1SAI27fqM3cn0lEJ_Wp3iWJkG65TpB4LI7jDvfK3g6LohsRBgCEdPgvoVDFGVl0qn4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">nick@westminingcorp.com<\/a><\/u><\/p>\n<p>\n        <strong><br \/>\n          <em>The<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>Canadian<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>Securities<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>Exchange<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>accepts<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>no<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>responsibility<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>for<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>the<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>adequacy<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>or<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>accuracy<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>of<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>this<\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em>release<\/em><br \/>\n        <\/strong><br \/>\n        <em>.<\/em>\n      <\/p>\n<p align=\"justify\">\n        <em>Certain statements contained in this press release constitute \u201cforward-looking information\u201d as such term is defined<\/em><br \/>\n        <em>in applicable Canadian securities legislation. The words \u201cmay\u201d, \u201cwould\u201d, \u201ccould\u201d, \u201cshould\u201d, \u201cpotential\u201d, \u201cwill\u201d,<\/em><br \/>\n        <em>\u201cseek\u201d, \u201cintend\u201d, \u201cplan\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cestimate\u201d, \u201cexpect\u201d and similar expressions as they relate to<\/em><br \/>\n        <em>the<\/em><br \/>\n        <em>Company,<\/em><br \/>\n        <em>are<\/em><br \/>\n        <em>intended<\/em><br \/>\n        <em>to<\/em><br \/>\n        <em>identify<\/em><br \/>\n        <em>forward-looking<\/em><br \/>\n        <em>information.<\/em><br \/>\n        <em>All<\/em><br \/>\n        <em>statements<\/em><br \/>\n        <em>other<\/em><br \/>\n        <em>than<\/em><br \/>\n        <em>statements<\/em><br \/>\n        <em>of<\/em><br \/>\n        <em>historical<\/em><br \/>\n        <em>fact may be forward-looking information. Such statements reflect the Company\u2019s current views and intentions with<\/em><br \/>\n        <em>respect<\/em><br \/>\n        <em>to<\/em><br \/>\n        <em>future<\/em><br \/>\n        <em>events,<\/em><br \/>\n        <em>and<\/em><br \/>\n        <em>current<\/em><br \/>\n        <em>information<\/em><br \/>\n        <em>available<\/em><br \/>\n        <em>to<\/em><br \/>\n        <em>them,<\/em><br \/>\n        <em>and<\/em><br \/>\n        <em>are<\/em><br \/>\n        <em>subject<\/em><br \/>\n        <em>to<\/em><br \/>\n        <em>certain<\/em><br \/>\n        <em>risks,<\/em><br \/>\n        <em>uncertainties<\/em><br \/>\n        <em>and<\/em><br \/>\n        <em>assumptions, including, without limitation: the potential of the Company\u2019s mineral properties; the estimation of<\/em><br \/>\n        <em>capital requirements; the estimation of operating costs; the timing and amount of future business expenditures; and<\/em><br \/>\n        <em>the<\/em><br \/>\n        <em>availability<\/em><br \/>\n        <em>of<\/em><br \/>\n        <em>necessary<\/em><br \/>\n        <em>financing.<\/em><br \/>\n        <em>Many<\/em><br \/>\n        <em>factors<\/em><br \/>\n        <em>could<\/em><br \/>\n        <em>cause<\/em><br \/>\n        <em>the<\/em><br \/>\n        <em>actual<\/em><br \/>\n        <em>results,<\/em><br \/>\n        <em>performance<\/em><br \/>\n        <em>or<\/em><br \/>\n        <em>achievements<\/em><br \/>\n        <em>that<\/em><br \/>\n        <em>may be expressed or implied by such forward-looking information to vary from those described herein should one or<\/em><br \/>\n        <em>more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic<\/em><br \/>\n        <em>conditions<\/em><br \/>\n        <em>or<\/em><br \/>\n        <em>financial<\/em><br \/>\n        <em>markets;<\/em><br \/>\n        <em>increases<\/em><br \/>\n        <em>in<\/em><br \/>\n        <em>costs;<\/em><br \/>\n        <em>litigation;<\/em><br \/>\n        <em>legislative,<\/em><br \/>\n        <em>environmental<\/em><br \/>\n        <em>and<\/em><br \/>\n        <em>other<\/em><br \/>\n        <em>judicial,<\/em><br \/>\n        <em>regulatory, political and competitive developments; and<\/em><br \/>\n        <em>exploration or operational difficulties. This list is not<\/em><br \/>\n        <em>exhaustive of the factors that may affect forward-looking information. These and other factors should be considered<\/em><br \/>\n        <em>carefully,<\/em><br \/>\n        <em>and<\/em><br \/>\n        <em>readers<\/em><br \/>\n        <em>should<\/em><br \/>\n        <em>not<\/em><br \/>\n        <em>place<\/em><br \/>\n        <em>undue<\/em><br \/>\n        <em>reliance<\/em><br \/>\n        <em>on<\/em><br \/>\n        <em>such<\/em><br \/>\n        <em>forward-looking<\/em><br \/>\n        <em>information.<\/em><br \/>\n        <em>Should<\/em><br \/>\n        <em>any<\/em><br \/>\n        <em>factor<\/em><br \/>\n        <em>affect<\/em><br \/>\n        <em>the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove<\/em><br \/>\n        <em>incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-<\/em><br \/>\n        <em>looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does<\/em><br \/>\n        <em>not<\/em><br \/>\n        <em>assume<\/em><br \/>\n        <em>responsibility<\/em><br \/>\n        <em>for<\/em><br \/>\n        <em>the<\/em><br \/>\n        <em>accuracy<\/em><br \/>\n        <em>or<\/em><br \/>\n        <em>completeness<\/em><br \/>\n        <em>of<\/em><br \/>\n        <em>such<\/em><br \/>\n        <em>forward-looking<\/em><br \/>\n        <em>information.<\/em><br \/>\n        <em>The<\/em><br \/>\n        <em>forward-looking<\/em><br \/>\n        <em>information<\/em><br \/>\n        <em>included<\/em><br \/>\n        <em>in<\/em><br \/>\n        <em>this press<\/em><br \/>\n        <em>release<\/em><br \/>\n        <em>is<\/em><br \/>\n        <em>made<\/em><br \/>\n        <em>as<\/em><br \/>\n        <em>of<\/em><br \/>\n        <em>the<\/em><br \/>\n        <em>date<\/em><br \/>\n        <em>of<\/em><br \/>\n        <em>this<\/em><br \/>\n        <em>press<\/em><br \/>\n        <em>release<\/em><br \/>\n        <em>and<\/em><br \/>\n        <em>the<\/em><br \/>\n        <em>Company<\/em><br \/>\n        <em>undertakes no<\/em><br \/>\n        <em>obligation<\/em><br \/>\n        <em>to<\/em><br \/>\n        <em>publicly update<\/em><br \/>\n        <em>or<\/em><br \/>\n        <em>revise any forward-looking information,<\/em><br \/>\n        <em>other<\/em><br \/>\n        <em>than as<\/em><br \/>\n        <em>required<\/em><br \/>\n        <em>by applicable law.<\/em>\n      <\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE2MTExOCMzOTk5MzczIzUwMDA3ODEzNg==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/d48c0b5d-d7b7-44d9-82ca-9d287d63c8d0\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) &#8212; West Mining Corp. (\u201cWest\u201d or the \u201cCompany\u201d) (CSE: WEST, OTC: WESMF, FRA: 1HL) is pleased to announce that it has closed its previously announced private placement financing (see the Company\u2019s press release dated February 9, 2021). Under the financing, West has raised gross proceeds of $6,674,252 through the issuance of 11,248,500 units (each, a \u201cUnit\u201d) at a price of $0.40 per Unit and of 4,182,415 flow-through units (each, a \u201cFT Unit\u201d) at a price of $0.52 per FT Unit . Each Unit is comprised of one common share and one common share purchase warrant, each warrant &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/west-mining-corp-closes-over-subscribed-financing-for-6600000\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;West Mining Corp. Closes Over-Subscribed Financing for $6,600,000&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-446416","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>West Mining Corp. Closes Over-Subscribed Financing for $6,600,000 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/west-mining-corp-closes-over-subscribed-financing-for-6600000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"West Mining Corp. Closes Over-Subscribed Financing for $6,600,000 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) &#8212; West Mining Corp. (\u201cWest\u201d or the \u201cCompany\u201d) (CSE: WEST, OTC: WESMF, FRA: 1HL) is pleased to announce that it has closed its previously announced private placement financing (see the Company\u2019s press release dated February 9, 2021). Under the financing, West has raised gross proceeds of $6,674,252 through the issuance of 11,248,500 units (each, a \u201cUnit\u201d) at a price of $0.40 per Unit and of 4,182,415 flow-through units (each, a \u201cFT Unit\u201d) at a price of $0.52 per FT Unit . Each Unit is comprised of one common share and one common share purchase warrant, each warrant &hellip; Continue reading &quot;West Mining Corp. 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Closes Over-Subscribed Financing for $6,600,000 - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/west-mining-corp-closes-over-subscribed-financing-for-6600000\/","og_locale":"en_US","og_type":"article","og_title":"West Mining Corp. Closes Over-Subscribed Financing for $6,600,000 - Market Newsdesk","og_description":"Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) &#8212; West Mining Corp. (\u201cWest\u201d or the \u201cCompany\u201d) (CSE: WEST, OTC: WESMF, FRA: 1HL) is pleased to announce that it has closed its previously announced private placement financing (see the Company\u2019s press release dated February 9, 2021). Under the financing, West has raised gross proceeds of $6,674,252 through the issuance of 11,248,500 units (each, a \u201cUnit\u201d) at a price of $0.40 per Unit and of 4,182,415 flow-through units (each, a \u201cFT Unit\u201d) at a price of $0.52 per FT Unit . Each Unit is comprised of one common share and one common share purchase warrant, each warrant &hellip; Continue reading \"West Mining Corp. 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