VANCOUVER, British Columbia, July 20, 2020 (GLOBE NEWSWIRE) — West Kam Gold Corp. (TSX-V: WKG) (the “Company” Where “West Kam”), announces that it has completed its previously announced debt settlement transaction pursuant to which it issued 7,208,560 common shares at a deemed price of $0.10/unit to settle a debt of $720,856. Insiders of the Company received a total of 2,396,840 common shares as part of the debt settlement, which is considered a related party transaction within the meaning of National Instrument 61-101 Protection of Minority Security Holders. Special Transactions (“NI 61-101”). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of NI 61-101 contained in sections 5.5(a) and 5.7(a), respectively, of NI 61-101 at regard to such insider participation.
About WestKam Gold Corp.
WestKam is a Canadian-based gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information is available on the Company’s website at www.westkamgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Matthew J. Wayrynen, President and CEO
|West Kam Gold Corp.
570 Granville Street, Suite 900
Vancouver, BC V6C 3P1
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.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. In particular, this press release contains forward-looking information regarding the Offer and the use of proceeds from the Offer. These forward-looking statements involve numerous assumptions made by the Company based on its experience, its perception of historical trends, current conditions, expected future developments and other factors it deems appropriate in the circumstances. These assumptions include, but are not limited to: acceptance of the Offering by TSXV; future costs and expenses being based on historical costs and expenses, adjusted for inflation; and market demand and market acceptance of the Offer. In addition, such statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that predictions, forecasts, projections and other forward-looking statements will prove to be inaccurate, some of which are beyond the control of the Company. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of unanticipated future events.