Vancouver, B.C. - May 4th, 2016 - Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that it intends to complete a non-brokered private placement to raise gross proceeds of $360,000 CAD. The Company intends to issue up to 3,000,000 flow-through Units (the “FT-Units”). The FT-Units are being offered at a price of $0.12 per unit. Each FT-Unit will consist of one flow-through common share and one non-transferable, non flow-through warrant (the “NFT Warrant”). Each NFT Warrant will entitle the holder to purchase one non flow-through common share at a price of $0.16 for a period of 24 months from the closing date of the private placement.
The Company may pay finder's fees in connection with part of this private placement offering. The net proceeds will be used to fund exploration at the Company’s 100% owned Shovelnose and Prospect Valley gold properties, and for general work purposes. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded. It is anticipated that insiders of Westhaven will participate in the private placement on the same terms and conditions as arm's length subscribers. The transaction is subject to regulatory approval.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Shaun Pollard, Director
About Westhaven Ventures Inc.
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose gold, Prospect Valley gold and Ben South nickel projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5521 or visit Westhaven’s website at www.westhavenventures.com
Neither the 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.