Western Gold Exploration Ltd. (TSE:WGLD) has released an update.
Western Gold Exploration Ltd. has successfully completed a non-brokered private placement, raising CAD$1.24 million through the issuance of over 17 million shares at CAD$0.07 each. The funds are earmarked for geophysics testing on new exploration targets and general expenses, with the shares subject to a four-month hold period. Notably, Zila Corporation, a significant insider, participated in the placement, which is exempt from certain regulatory requirements due to its size relative to the company’s market capitalization.
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