VANCOUVER, British Columbia, Oct. 25, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that it has received proceeds of $867,446 related to the exercise of warrants and options. As of the date of this news release, the Company now has 83,887,958 common shares issued and outstanding.
Plethora Precious Metals Fund (Plethora) has increased its 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 owns 12,690,166 shares representing 15.1% 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.
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100%-interest in 4 properties covering over 35,000 hectares within the prospective SBGB, which is situated within a geological setting like those which host other significant epithermal gold-silver systems. It is close to major transportation routes 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. Sable Resources and Westhaven have a combined control of 86% of the SBGB (225,000ha). Any ground staked by Sable within 5-kilometres of Westhaven’s existing projects will be subject to a 2.5% NSR. In addition, Westhaven has a 30 day Right of First Refusal (ROFR) for a three-year period for any properties within this 5-kilometre radius.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Shaun Pollard, CFO & 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, Skoonka and Skoonka North 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.