Westward Gold Upsizes Private Placement to C$12 Million
Vancouver, British Columbia — September 10, 2026 — Leads & Copy — Westward Gold Inc. is upsizing its non-brokered private placement to raise up to C$12 million, the company announced Thursday. The offering, initially announced on September 9, 2026, will now see up to 48,000,000 units issued at C$0.25 per unit.
Each unit consists of one common share and one-half of a common share purchase warrant. Each full warrant grants the holder the right to purchase one common share of Westward Gold at C$0.40 for 24 months following the closing of the offering.
Existing strategic investors Crescat Capital LLC and Concept Capital Management Ltd. have indicated their intention to participate in the offering, collectively subscribing for $2.8 million worth of units. Crescat plans to invest $1.8 million for 7,200,000 units, increasing its previously disclosed allocation. Concept Capital intends to subscribe for 4,000,000 units, representing $1.0 million in gross proceeds.
Proceeds from the offering are designated for several key areas. The funds will primarily support ongoing drilling at the Toiyabe Hills Property, located on the Cortez Trend in Nevada. Additional activities include trenching, geological mapping, rock-chip and soil sampling, and geophysical surveys.
The offering will also be used to increase cash bonding for Westward Gold’s existing Plan of Operations with the U.S. Bureau of Land Management, which will allow for expanded ground disturbance. A portion of the proceeds will also be allocated to general working capital purposes.
The closing of the offering is contingent on receiving all necessary regulatory approvals, including from the Canadian Securities Exchange (CSE). Securities issued in the offering will be subject to a four-month-and-one-day hold period under applicable securities laws and CSE requirements.
Westward Gold anticipates paying finder’s fees of up to 7% of the gross proceeds from the offering. These fees may be paid in cash or in units at the offering price. The company also expects to issue finder’s warrants, up to 7% of the number of units issued, exercisable at $0.30 per common share for 24 months.
Certain insiders of Westward Gold intend to acquire units in the offering. This participation is considered a “related party transaction” under Multilateral Instrument 61-101. However, it is expected to be exempt from formal valuation and minority shareholder approval requirements, as neither the fair market value nor the consideration for the units subscribed by insiders is anticipated to exceed 25% of the company’s current market capitalization.
The securities offered have not been registered under the United States Securities Act of 1933 and may not be sold within the United States or to U.S. persons without registration or an applicable exemption. This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such activity would be unlawful.
Westward Gold is a mineral exploration company focused on its Toiyabe Hills Project in Nevada, as well as the Coyote and Rossi Projects in Nevada. The company may also evaluate opportunities to acquire other mineral exploration assets.
Source: Westward Gold Inc.
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