The Prospector News

Gowest Completes Debt Conversion and Raises Proceeds of $11,000,000 from Exercise of Warrants

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Gowest Completes Debt Conversion and Raises Proceeds of $11,000,000 from Exercise of Warrants

 

 

 

 

Gowest Gold Ltd. (TSX-V: GWA) announced that it has completed its previously announced conversion of indebtedness in an aggregate amount of $6,859,900.24 into common shares of the Company. Pursuant to the Debt Conversion, the Company issued an aggregate of 50,814,076 common shares at a price of $0.135 per share. For further details, see Gowest press release dated June 21, 2023.

 

Gowest also announced today that certain holders of outstanding common share purchase warrants of the Company have exercised these Warrants for aggregate gross proceeds to the Company of $11,000,460.90. Specifically, an aggregate of 110,004,609 common shares of the Company were issued at a price of $0.10 pursuant to the Warrant Exercises.

 

All securities issuable in connection with the Debt Conversion are subject to a hold-period expiring four months and one day after the date of issuance.

 

  1. Fraser Elliott, Chairman, commented: “I would like to thank our shareholders for their continued financial support for the Company as we develop Gowest into the newest gold miner in the Timmins Camp.”

 

About Gowest

 

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit on the Frankfield Property, part of the Corporation’s North Timmins Gold Project. Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes grading 6.19 grams per tonne gold containing 422 thousand ounces Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

 

Posted July 4, 2023

Share this news article

MORE or "UNCATEGORIZED"


Aldebaran Announces Closing of $40 Million Bought Deal Offering

Aldebaran Resources Inc.  (TSX-V: ALDE) (OTCQX: ADBRF) is please... READ MORE

February 5, 2026

Erdene Announces Closing of $25 Million Bought Deal Private Placement

Erdene Resource Development Corp. (TSX:ERD) (MSE:ERDN) (OTCQX: ER... READ MORE

February 5, 2026

NOVAGOLD Announces Closing of Upsized Bought Deal for Gross Proceeds of US$310 Million

NOVAGOLD RESOURCES INC. (NYSE: NG) (TSX: NG) is pleased to report... READ MORE

February 5, 2026

Guanajuato Silver Sees Significant Growth in Resources at Valenciana

~ Inferred Mineral Resources Increased by 630% to 20.3M AgEq Ounc... READ MORE

February 5, 2026

Copper Quest Increases and Closes Unit Offering for Total Gross Proceeds of $2,099,890

Copper Quest Exploration Inc. (CSE: CQX) (OTCQB: IMIMF) (FRA: 3MX... READ MORE

February 5, 2026

Copyright 2026 The Prospector News