NEWS RELEASE
WestKam Announces Private Placement to Existing Shareholders and Other Investors
Vancouver, BC, April 27, 2015 – WestKam Gold Corp.
announces that the Company intends to raise up to $ 500,000 by way of a non placement (the “ Offering ”) of units (“certain limitations discussed below, the Offering i s open to all existing shareholders of the Company. The Offering is subject to TSX Venture Exchange (“
Any existing shareholders interested in participati ng pursuant to the contact information set forth below.
The Offering
The maximum Offering is 16,666,666 to any minimum aggregate subscription.
WestKam (the “ Common Shares ”) and one Common Share purchase warrant (the “Warrant will be exercisable into one Common Share for a period of
A finder's fee of cash, Common Shares or Warrants, or a combination thereof, may be paid to eligible finders with respect to any portion of the Offering that is not subscribed for by existing shareholders.
The proceeds of the Offering will be used t property, to repay outstanding debt and for working capital and general corporate purposes. Assuming the entire $500 ,000 Offering is completed, the use of p on the Bonaparte property , including environmental, consulting and travel legal/accounting/audit /AGM costs ($10,0 00); website/corporate communications ($7,500); ren t/office expenses and general supplies ($12,500); consulting fees for CFO and CEO ($30,000) ($20,000 ). Although the Company intends to use the proceed s of the O actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the Offering is not fully subscribed, the Compan y will apply the proceeds of the Offering to the above uses in priority and in s uch proportions as management of the Company determines is in the best interests of the Company
The securities issued in connection with the Offering will be subject to a hold period expiring four months and one day from the date of issuance of such securities.
NEWS RELEASE
WestKam Announces Private Placement to Existing Shareholders and Other Investors WestKam Gold Corp. (TSX-V: WKG) (the “ Company” announces that the Company intends to raise up to $ 500,000 by way of a non”) of units (“ Units ”) of the Company at a price of $0.03 per Unit. Subject to certain limitations discussed below, the Offering i s open to all existing shareholders of the Company. Offering is subject to TSX Venture Exchange (“ TSXV ”) final acceptance.
Any existing shareholders interested in participati ng in the Offering should contact the Company pursuant to the contact information set forth below.
16,666,666 Units for gross proceeds of $500,000 . The Offering is not subject to any minimum aggregate subscription. Each Unit will consist of one common share in the c apital of”) and one Common Share purchase warrant (the “Warrant will be exercisable into one Common Share for a period of five years at a price of $0.05/share. A finder's fee of cash, Common Shares or Warrants, or a combination thereof, may be paid to eligible finders with respect to any portion of the Offering that is not subscribed for by existing shareholders. The proceeds of the Offering will be used t o conduct a work program on the Company’s repay outstanding debt and for working capital and general corporate purposes. Assuming,000 Offering is completed, the use of p roceeds will be as follows: P hase 1 drill progr, including environmental, consulting and travel /AGM costs ($45,000); transfer agent fees/regulatory listing and filing fees 00); website/corporate communications ($7,500); ren t/office expenses and general supplies for CFO and CEO ($30,000) ; and unallocated/ general corporate purposes). Although the Company intends to use the proceed s of the O ffering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the Offering is not fully subscribed, the Compan y the Offering to the above uses in priority and in s uch proportions as management of the Company determines is in the best interests of the Company .
The securities issued in connection with the Offering will be subject to a hold period expiring four months and one day from the date of issuance of such securities.
WestKam Announces Private Placement to Existing Shareholders and Other Investors Company” or “WestKam ”) announces that the Company intends to raise up to $ 500,000 by way of a non -brokered private per Unit. Subject to certain limitations discussed below, the Offering i s open to all existing shareholders of the Company. in the Offering should contact the Company. The Offering is not subject Each Unit will consist of one common share in the c apital of”) and one Common Share purchase warrant (the “ Warrants ”). Each years at a price of $0.05/share.
A finder's fee of cash, Common Shares or Warrants, or a combination thereof, may be paid to eligible finders with respect to any portion of the Offering that is not subscribed for by existing shareholders. conduct a work program on the Company’s Bonaparte repay outstanding debt and for working capital and general corporate purposes. Assuming hase 1 drill progr am, including environmental, consulting and travel ($375,000); listing and filing fees 00); website/corporate communications ($7,500); ren t/office expenses and general supplies general corporate purposes ffering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the Offering is not fully subscribed, the Compan y the Offering to the above uses in priority and in s uch proportions as The securities issued in connection with the Offering will be subject to a hold period expiring four
Existing Shareholder Exemption
Depending on demand and regulatory requirements, a portion of the Offering may be made in accordance with the provisions of the existing shar eholder exemption (the “ Existing Shareholder Exemption ”) contained in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions (the Exist ing Shareholder Exemption is not available in Ontar io or Newfoundland and Labrador). In addition to conduct ing the Offering pursuant to the Existing Shareholder Exemption, the Offering will also be co nducted pursuant to other available prospectus exemptions, including sales to accredited investors , family and close personal friends and business associates of directors and officers of the Company.
The Company has set April 24, 2015 as the record da te for the purpose of determining existing shareholders entitled to purchase Units pursuant to the Existing Shareholder Exemption. Subscribers purchasing Units under the Existing Shareholder Exe mption will need to represent in writing that they meet certain requirements of the Existing Sharehold er Exemption, including that they were, on or before the record date, a shareholder of the Compan y (and still are a shareholder). The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless that subscriber has obtained advice from a register ed investment dealer regarding the suitability of t he investment. There is no minimum subscription amount. If subscriptions received for the Offering based on all available exemptions exceed the maximum Offe ring amount of $500,000, Units will be allocated pro rata amongst all subscribers qualifying under all available exemptions.
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
“Matt Wayrynen” Matt Wayrynen, President
WestKam Gold Corp.
Suite 900, 570 Granville Street Vancouver, BC V6C 3P1 Contact: John Ulmer, Investor Relations 778.994.6453 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 stat ements. In particular, this news release contains forward-l ooking information regarding the Offering and the use of proceeds of the Offering. These forward-looking statements involve numerous a ssumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments a nd other factors it believes are appropriate in the circumstances. These assumptions include, but are not limited to: TSXV acceptance of the Offering; future costs and e xpenses being based on historical costs and expenses, adjusted for infl ation; and market demand for, and market acceptance of, the Offering. In addition, these statements involve substantial known and unknown ri sks and uncertainties that contribute to the possib ility 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 forwardlooking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.