Investment From Eric Sprott VANCOUVER, BRITISH COLUMBIA, August 13, 2020 – West Vault Mining Inc. (WVM:TSXV) (“West Vault” or the “Company”) is pleased to announce that it has closed its previously announced brokered private placement (the “Brokered Offering”) to raise aggregate gross proceeds of $6,348,000 including the exercise in full of the agents’ over-allotment option. Under the Brokered Offering, the Company issued a total of 5,520,000 common shares (“Shares”) of the Company at a price of $1.15 per Share (the “Issue Price”). Together with the non-brokered private placement of the Company closed earlier today (see press release dated August 13, 2020) (the “Non-Brokered Private Placement”), the Company has raised total gross proceeds of $16,531,250.
Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 2,608,700 Shares under the Brokered Offering for total consideration of $3,000,005.