Gowest Gold raises C$3 million through private placement of units

Offering finances exploration, development, general corporate purposes

By Devika Patel

Knoxville, Tenn., Dec. 19 - Gowest Gold Ltd. said it settled a C$3 million private placement of units. The deal priced on Nov. 29 and was conducted by Mackie Research Capital Corp.

The company sold 18,942,000 flow-through units of one flow-through common share and a half-share warrant at C$0.12 per unit and 6,615,045 units of one common share and a half-share warrant at C$0.11 per unit.

Each whole warrant is exercisable at C$0.14 until Dec. 19, 2014. The strike price is a 16.67% premium to the Nov. 26 closing share price of C$0.12.

Proceeds will be used for exploration, development and general corporate purposes.

Based in Toronto, Gowest explores for gold in Ontario.

Issuer:	Gowest Gold Ltd.
Issue:	Flow-through units of one flow-through common share and a half-share warrant, units of one common share and a half-share warrant
Amount:	C$3,000,695
Warrants:	One half-share warrant per unit
Warrant expiration:	Dec. 19, 2014
Warrant strike price:	C$0.14
Agent:	Mackie Research Capital Corp.
Pricing date:	Nov. 29
Settlement date:	Dec. 19
Stock symbol:	TSX Venture: GWA
Stock price:	C$0.12 at close Nov. 26
Market capitalization:	C$14.51 million
Flow-through units
Amount:	C$2,273,040
Units:	18,942,000
Price:	C$0.12
Units
Amount:	C$727,655
Units:	6,615,045
Price:	C$0.11

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