West Kirkland Mining Inc. (TSX-V:WKM) announces that it has closed a private placement of common shares of the Company with three shareholders for $1,447,500 at $0.075 per share.

The Company issued 19,300,000 shares at a price of $0.075 per share for aggregate gross proceeds of $1,447,500. There were no finder’s fees or commissions paid on the Private Placement which was arranged by management with three of the Company’s large shareholders. Following the Private Placement, Sun Valley Gold Master Fund, Ltd. and Ruffer LLP, on behalf of its clients, will hold approximately 33.71% and 16.99% respectively of the common shares of the Company. A third shareholder will beneficially own approximately 9.9% of the common shares of the Company following the Private Placement.

The Company intends to use the net proceeds of the Private Placement for general working capital, targeted resource expansion drilling, regional exploration, and phase two permitting on its 75% interest in the Hasbrouck Project in Nevada. Clover Nevada LLC, a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP, owns the remaining 25% interest in the Hasbrouck Project. Waterton has been funding their 25% share of project expenditures since September, 2016

The shares sold in this Private Placement will be subject to a four-month resale restriction from the date of closing. 

The securities offered pursuant to the Offerings have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About West Kirkland Mining Inc.

West Kirkland owns a 75% interest in, and a 1.1% net smelter return royalty over the Hasbrouck Gold Project in Tonopah, Nevada. A Pre-feasibility Study was completed and updated in 2016 for two open-pit heap-leach mines comprising the Hasbrouck Gold Project. The Pre-feasibility Study along with construction-level drawings and all federal and state permits for the phase-one Three Hills Mine provides a ready-to-construct project. Permitting for the phase-two Hasbrouck Mine is well advanced.