West Kirkland Closes First Tranche of Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA, January 29, 2014 – West Kirkland Mining Inc. (WKM:TSXV) (“WKM” or the “Company”) announces that it has closed the first tranche of its previously announced non-brokered private placement financing of up 15,000,000 shares for gross proceeds of CAD$1,500,000 (the “Private Placement”) at $0.10 per share.
In the first tranche the Company issued 6,500,000 common shares for gross proceeds of $650,000. The Company paid fees to certain finders in the amount of $16,500. All shares issued pursuant to the first tranche are subject to a statutory four month hold period which expires on May 30, 2014.
Of the funds raised in the first tranche of the Private Placement, US$500,000 has been allocated for the non-refundable deposit paid on January 24, 2014 to Allied Nevada Gold Corp. (“ANV”) under the terms of the letter agreement entered into between ANV and the Company. The remainder of the funds raised will be used for general working capital purposes.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
About West Kirkland Mining Inc.
WKM was formed in 2010 to focus on gold exploration along major trends in North America. The Company has consolidated significant mineral rights positions within the Long Canyon Trend of Nevada/Utah. The founders and Board members of WKM have successful experience in gold discovery, mine development and mine operations in Nevada and other gold producing jurisdictions in North America.
For further information, please see the Company’s website at wkmining.com or contact us by email at or call:
West Kirkland Mining Inc.
R. Michael Jones, Michael Allen or Knox Henderson at (604) 685-8311
Disclaimer for Forward-Looking Information
This press release contains forward-looking information or forward looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Forward-looking information in this news release includes, without limitation, all statements regarding the completion of future tranches of the Private Placement financing of up to 15,000,000 shares or $1,500,000 in total proceeds raised. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the market for gold or other minerals that may be produced generally, recent market volatility and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.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.