November 06, 2012 18:26 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2012) - WestKam Gold Corp. (TSX VENTURE:WKG) (the "Company") is pleased to announce it has closed its previously announced non brokered private placement. A total of 5,223,200 units of the Company were subscribed; consisting of 733,333 flow-through units at a price of $0.15 per unit for gross proceeds of $110,000 and 4,489,867 non flow-through units at a price of $0.15 for gross proceeds of $673,480. Each flow-through unit will consist of one flow-through common share and one common share purchase warrant, and each non flow-through unit will consist of one common share and one common share purchase warrant. All warrants are exercisable at a price of $0.30 per warrant share for a period of two years following the close of the private placement. Proceeds arising from the sale of the flow-through units will be used to advance the Bonaparte Gold Project. Proceeds arising from the sale of the non flow-through units will be used for general working capital purposes.
The Company may pay a commission to certain introducing parties in respect of the private placement, subject to compliance with applicable securities legislation and TSX Venture Exchange policies. The private placement is subject to the approval of the TSX Venture Exchange Inc.
About WestKam Gold Corp.
WestKam Gold Corp. is a Canadian gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information can be found on the company's website at www.westkamgold.com
ON BEHALF OF THE BOARD OF DIRECTORS
Matt Wayrynen, President
WestKam Gold Corp.John UlmerInvestor Relations778.994.6453www.westkamgold.comWestKam Gold Corp.Suite 900, 570 Granville StreetVancouver, BC V6C 3P1
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