07:58 AM EDT, 05/30/2025 (MT Newswires) -- West Point Gold ( WPGCF ) overnight Thursday entered into an agreement with a syndicate of underwriters in connection with a 'bought deal' private placement for aggregate gross proceeds of near C$7 million.

A statement noted the offering will consist of the issuance and sale of 15,555,600 units of the company at a price of C$0.45 per Unit. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share of the company at a price of C$0.55 at any time before 5pm (Toronto time) on the date that is 24 months following the closing date. The expiry date of the warrants will accelerate in the event the volume weighted average trading price of the common shares in the capital of the company is equal to or exceeds C$0.90 per common share for a period of 20 consecutive trading days. If an acceleration event occurs, the warrants will expire 30 days after notice of such event.

The company has granted the underwriters an option, exercisable in whole or in part, at any time prior to closing date, to increase the size of the Offering to raise additional gross proceeds of up to C$1,000,080.

The company intends to use net proceeds from the offering for exploration and advancement of the company's Gold Chain Project, sustaining and exploration expenditures on the company's projects in Nevada and for general working capital purposes. It is expected to close on or about June 10, 2025.