Westward Gold Announces Closing of Non-Brokered Private Placement Financing with Participation from Strategic Investors Crescat Capital LLC and Concept Capital Management
Vancouver, British Columbia, October 8, 2025 – TheNewswire - Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) (“Westward” or the “Company”) is pleased to announce that it has closed its previously-announced non-brokered private placement (the “Offering”) (see press release dated September 23, 2025), and has issued 45,454,544 units (each, a “Unit”) at a price of C$0.11 per Unit, for aggregate gross proceeds to the Company of approximately C$5,000,000. Each Unit is comprised of one common share of the Company (each, a “Common Share”) and one common share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at a price of C$0.15 for a period of 24 months following the closing date of the Offering. The Company is also pleased to welcome its newest strategic shareholder, Concept Capital Management Ltd. (“Concept Capital”), who has subscribed for 22,727,272 Units for gross proceeds of approximately $2,500,000. This represents a post-Offering basic ownership interest of approximately 9.9% (18.0% on a partially-diluted basis). Existing strategic shareholder Crescat Capital LLC (“Crescat”) has subscribed for 9,090,910 Units for gross proceeds of approximately $1,000,000, through Crescat Portfolio Management LLC on behalf of its Pooled Investment Funds. This investment, combined with Crescat's prior holdings, represents a post-Offering basic ownership interest of approximately 12.1% (approximately 21.7% on a partially-diluted basis). Crescat continues to retain its pre-emptive right to maintain its pro-rata interest for as long as it owns 2% or more of the then-outstanding common shares of the Company, on an undiluted basis. The Offering will not result in the creation of a new Control Person of the Company (as such term is defined in the policies of the CSE), as the Warrants are not exercisable if such exercise would result in the holder, together with any person or company acting jointly or in concert with the holder, owning, or exercising control or discretion, over 20% or greater of the issued and outstanding shares of the Company.
Oct 08, 2025 | www.thenewswire.com