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Published on 1/13/2009 in the Prospect News PIPE Daily.

New Issue: West Timmins to sell C$2 million of units in private placement

By Devika Patel

Knoxville, Tenn., Jan. 13 - West Timmins Mining Inc. said it will raise C$2 million in a private placement of units.

The company will sell 4 million units of one common share and one half-share warrant at C$0.50 apiece. Each whole warrant will be exercisable at C$0.65 for 18 months.

Canaccord Capital Corp. is the agent. Canaccord has a greenshoe for C$1 million, or 2 million units.

Settlement is expected Jan. 30.

Proceeds will be used for exploration of mineral properties and general working capital purposes.

West Timmins is a gold exploration and mining company based in Vancouver, B.C.

Issuer:West Timmins Mining Inc.
Issue:Units of one common share and one half-share warrant
Amount:C$2 million
Greenshoe:C$1 million
Units:4 million
Price:C$0.50
Warrants:One half-share warrant per unit
Warrant expiration:18 months
Warrant strike price:C$0.65
Agent:Canaccord Capital Corp.
Pricing date:Jan. 13
Settlement date:Jan. 30
Stock symbol:Toronto: WTM
Stock price:C$0.52 at close Jan. 12

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