Westward Gold Inc. has upsized its non-brokered private placement to issue up to 48,000,000 units at C$0.25 per unit, targeting aggregate gross proceeds of up to C$12,000,000.

Each unit consists of one common share and one-half of a common share purchase warrant, with whole warrants exercisable at C$0.40 for 24 months following the closing date. Strategic investors Crescat Capital LLC and Concept Capital Management Ltd. have committed to participate for a combined total of $2,800,000. Crescat intends to subscribe for 7,200,000 units for gross proceeds of $1,800,000, while Concept Capital plans to subscribe for 4,000,000 units for gross proceeds of $1,000,000.

The net proceeds will primarily fund ongoing drilling at the company’s flagship Toiyabe Hills Property along the Cortez Trend in Nevada. Funds will also support further trenching, detailed geological mapping, rock-chip and soil sampling programs, geophysical surveys, and increased cash bonding under an existing U.S. Bureau of Land Management Plan of Operations to allow for expanded ground disturbance.

The company's primary operating focus is the Toiyabe Hills Property located in Lander County, Nevada. Westward Gold has also scheduled a Phase I drilling campaign at the El Segundo Target on the property using reverse circulation and core drilling across eight planned sites totaling approximately 6,000 metres.

Closing of the offering is subject to necessary regulatory approvals, including acceptance from the Canadian Securities Exchange. The issued shares and warrants will be subject to a four-month and one-day hold period. The company also expects to pay finder's fees of up to 7% of gross proceeds in cash or units, alongside finder's warrants exercisable at $0.30 per share for 24 months. Certain insiders intend to participate in the financing, constituting a related party transaction that is expected to be exempt from formal valuation and minority shareholder approval requirements based on capitalization thresholds. Regional activity in the surrounding district includes drilling at the New Pass project by Iconic Minerals Ltd. in August 2026 that intersected 150 feet grading 0.60 g/t gold in hole NP2603.

Read the full announcement: Westward Gold Announces Upsizing of Non-Brokered Private Placement Financing to C$12M