Somehow missed this the other day. Raising money to drill maybe?! Let's hope so. 

Westhaven Ventures arranges $520,000 private placement

2012-10-09 14:57 ET - News Release


Mr. Shaun Pollard reports


Westhaven Ventures Inc. has arranged a non-brokered private placement financing of up to four million units at a price of 13 cents per unit for gross proceeds of up to $520,000.

Each unit comprises one common share and one common share purchase warrant. Each warrant shall be exercisable into one additional common share of the company for a period of 24 months from closing of the private placement at an exercise price of 20 cents.

The net proceeds from the sale of units will be used to finance drill programs for both the Shovelnose and Ben gold exploration projects, and for working capital.

The company may pay a cash finders' fee to certain finders of up to 8 per cent of the total gross proceeds of the private placement. All securities issued pursuant to the private placement will be subject to a four-month hold period from the date of issuance. Completion of the private placement is subject to TSX Venture Exchange approval.