West Mining Corp. has successfully completed its debt settlement transaction, further solidifying its financial position. The company issued 115,385 common shares to an arm’s length creditor, settling an outstanding debt of $30,000. The shares were valued at $0.26 per share, and are subject to a four-month hold period expiring on December 7, 2024, in compliance with applicable securities laws and the policies of the Canadian Securities Exchange.
West Mining Corp. is a mineral exploration company focused on acquiring and developing advanced and early-stage exploration projects. Its flagship project, the Kena Project, located near Nelson, British Columbia, spans over 9,000 hectares. The Kena Project consists of three adjoining properties: Kena, Daylight, and Athabasca.
The Kena Project has shown promising results, with a 2021 NI43-101 resource estimate indicating 561,900 ounces of gold in the indicated category and 2,773,100 ounces of gold in the inferred category across the Gold Mountain, Kena Gold, and Daylight Zones. Notably, the Daylight property encompasses several historic gold mines, including Daylight, Starlight, Victoria, Irene, and Great Eastern.
Adjacent to the Kena Project is the Athabasca Property, which includes the historic Athabasca Gold Mine. West Mining Corp. also holds a 100% interest in its Spanish Mountain and Junker properties.
The successful completion of the debt settlement transaction demonstrates West Mining Corp.’s commitment to strengthening its financial position. By settling outstanding debt, the company can allocate resources towards advancing its exploration projects and unlocking the full potential of its mineral assets.
For more information about West Mining Corp. and its projects, please refer to the company’s public disclosure record available on SEDAR+ at www.sedarplus.com.