VANCOUVER, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that it has received proceeds of $200,000 related to the exercise of warrants. The warrants were exercisable at $0.10. As of the date of this news release, the Company now has 64,872,642 common shares issued and outstanding.
Plethora Precious Metals funds (Plethora) has increased their shareholdings via the exercise of 2,000,000 warrants. The warrants, acquired through a private placement transaction, had an exercise price of $0.10 and were set to expire on October 17, 2019. After consideration of this transaction, Plethora Precious Metals Fund owns 8,606,833 shares representing 13.3% of the Company on a non-diluted basis. Plethora acquired these securities for investment purposes, thus depending on the economic or market conditions or matters relating to the Company, Plethora may choose to either acquire additional securities or dispose of securities of the Company.
As per the news release dated January 16, 2018, Westhaven recently made a significant discovery at its Shovelnose gold property located within the Spences Bridge Gold Belt, British Columbia. Preparations are underway for a follow-up drill program. This drill program is fully financed.
The Spences Bridge Gold Belt (SBGB)
Westhaven owns over 30,000 hectares within the prospective SBGB, which is situated within a geological setting similar to those which host other significant epithermal gold-silver systems. It is close to existing transportation and infrastructure allowing for cost-effective exploration. The SBGB is a 110-kilometre northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge group. Westhaven has been working on the SBGB since 2011 and believes these relatively underexplored volcanic rocks are highly prospective for epithermal style gold mineralization.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Shaun Pollard, Director
About Westhaven Ventures Inc.
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose, Prospect Valley and Skoonka gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5521 or visit Westhaven’s website at www.westhavenventures.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.