West Vault Mining closes $16.5 million private placements, using proceeds to consolidate ownership of 100% of Hasbrouck Gold Project

13 août 2020

On August 13, 2020, West Vault Mining Inc. (WVM: TSXV) ("West Vault") closed its previously announced brokered private placement of common shares for aggregate gross proceeds of $6,348,000 including the exercise in full of the agents' over-allotment option. 

West Vault also announced that it had completed the previously announced non-brokered private placement of common shares of the company for aggregate gross proceeds of $10,183,250, with two of its major shareholders. West Vault raised total gross proceeds of $16,531,250 from both the brokered and non-brokered private placements. 

On August 14, 2020, the proceeds of both private placements were used to finance West Vault's purchase of a 25% interest in the Hasbrouck Gold Project, located in Tonopah, Nevada, from Clover Nevada LLC, a subsidiary of Waterton Precious Metals Fund II Cayman, LP ("Waterton"), thus consolidating 100% ownership of the Project by West Vault. To acquire Waterton's interest, West Vault paid US$10 million in cash and issued one million of its common shares to Waterton.

Gowling WLG advised West Vault with respect to the private placements and the acquisition with a team that included Daniel Allen, Brett Kagetsu and Raymond Ong (corporate) and Brent Kerr (tax), assisted by paralegal Toni Vodola.


CECI NE CONSTITUE PAS UN AVIS JURIDIQUE. L'information qui est présentée dans le site Web sous quelque forme que ce soit est fournie à titre informatif uniquement. Elle ne constitue pas un avis juridique et ne devrait pas être interprétée comme tel. Aucun utilisateur ne devrait prendre ou négliger de prendre des décisions en se fiant uniquement à ces renseignements, ni ignorer les conseils juridiques d'un professionnel ou tarder à consulter un professionnel sur la base de ce qu'il a lu dans ce site Web. Les professionnels de Gowling WLG seront heureux de discuter avec l'utilisateur des différentes options possibles concernant certaines questions juridiques précises.