|By Marketwired .||
|June 25, 2014 08:01 AM EDT|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/25/14 -- WestKam Gold Corp. (TSX VENTURE:WKG) (the "Company") is pleased to announce a non-brokered private placement consisting of up to 9,500,000 units for aggregate proceeds of up to $500,000. The Company will offer up to 2,500,000 flow-through units at $0.06 per flow-through unit and up to 7,000,000 units at $0.05 per unit. The flow-through units will be offered at $0.06 and consist of one flow-through common share and one common share purchase warrant exercisable to acquire one common share of the Issuer at an exercise price of $0.07 per share in years one and two following the date of Closing, and at an exercise price of $0.10 per share in years three through five following the date of Closing. The units will be offered at $0.05 and consist of one common share and one common share purchase warrant exercisable to acquire one common share of the Issuer at an exercise price of $0.05 per share in years one and two following the date of Closing, and at an exercise price of $0.10 per share in years three through five following the date of Closing.
Proceeds arising from the sale of the units will be used for general working capital. Proceeds arising from the sale of the flow-through units will be used for a summer 2014 exploration program on the Bonaparte Gold Project. The proposed 2014 field program has been designed to follow up exploration in 2013 which extended both of Bonaparte's key targets and will include mapping and prospecting, 3D IP and magnetic geophysical surveys and soil geochemistry. Rick Kemp, PGeo, is the qualified person for the Bonaparte Gold Project as that term is defined in NI 43-101.
About WestKam Gold Corp.
WestKam Gold Corp. 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
Matt Wayrynen, President
Forward looking statements: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release contains statements that are forward looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward looking statements.
WestKam Gold Corp.