|July 29, 2013|
WestKam Gold Closes Private Placement
Aggregate Proceeds of $655,750 Raised
Vancouver, BC, July 29, 2013: WestKam Gold Corp. (TSX.V - WKG) (the "Company") is pleased to announce it has closed its previously announced non-brokered private placement. A total of 13,115,000 units of the Company were subscribed; consisting of 3,300,000 flow-through units at a price of $0.05 per unit for gross proceeds of $165,000 and 9,815,000 non flow-through units at a price of $0.05 for gross proceeds of $490,750. The flow-through units consist of one flow-through common share and one common share purchase warrant exercisable at a price of $0.10 in years one through three following the close of the private placement, and at a price of $0.20 in years four and five following the close of the private placement. The units will be offered at $0.05 and consist of one common share and one common share purchase warrant exercisable at a price of $0.10 for a period of five years following the close of the private placement.
Proceeds arising from the sale of the flow-through units will be used to advance the Bonaparte Gold Project. Proceeds arising from the sale of the non flow-through units will be used for general working capital purposes.
The Company will pay an aggregate of $40,757 and issue 811,500 warrants, exercisable for a period of 5 years at a price of $0.10 per warrant share, to certain introducing parties in respect of the private placement, subject to compliance with applicable securities legislation and TSX Venture Exchange policies. The private placement is subject to the approval of the TSX Venture Exchange Inc.
About WestKam Gold Corp.
WestKam Gold Corp. is a Canadian gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information can be found on the company's website at www.westkamgold.com
ON BEHALF OF THE BOARD OF DIRECTORS
WestKam Gold Corp.
Suite 900, 570 Granville Street
Vancouver, BC V6C 3P1
Contact: John Ulmer, Investor Relations
Forward looking statements: Neither 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. This release contains statements that are forward looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward looking statements.
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