VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2013) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
West Kirkland Mining Inc. (TSX VENTURE:WKM) (the "Company") announces that the Company has agreed with Cormark Securities Inc. and PI Financial Corp. (the "Agents") to increase the size of the offering of Units for sale, announced on January 18, 2013 (the "Offering"), on a best efforts agency basis, by 2,400,000 Units ($ 600,000) up to 22,400,000 units (the "Units") of the Company at a price of $0.25 per Unit (the "Offering Price") for gross proceeds of up to $5.60 million. Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at a price of $0.40 for a period of one year following the closing date.
The Company will pay the Agents a cash commission equal to 7.0% of the gross proceeds of the offering. Closing of the offering is anticipated to occur, as previously announced on or before February 7, 2013 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.
The net proceeds of the Offering will be used for exploration activities on the Company's properties and for general corporate purposes.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available. The securities in the Offering will be sold on a private placement basis and be subject to a four month re-sale restriction from the date of closing.
About West Kirkland Mining
West Kirkland Mining was formed in 2010 to focus on gold exploration along major trends in North America. The Company has consolidated significant mineral rights positions within the major gold trends of Nevada/Utah and in the Kirkland Lake area of Ontario - two of North America's premier gold jurisdictions. The founders and Board of West Kirkland Mining have successful gold discovery, development and mine operations experience in both Ontario and Nevada over the past 40 years.
For further information, please see the Company's website at www.wkmining.com.
Forward Looking Statements
Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information" Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.
Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, the timing of the receipt of regulatory approvals required to complete the Offering and those referred to in the Company's Annual Information Form dated as of April 18, 2012 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.