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Gowest Closes Private Placement

November 10, 2016 - releases
Gowest Closes Private Placement

Gowest Gold Ltd.(TSX VENTURE:GWA) announced today that it has closed a non-brokered private placement of 12,225,000 “flow-through” common shares of the Corporation and 325,000 non-“flow-through” common shares of the Corporation, at a price of $0.20 per Share, for aggregate gross proceeds of $2,510,000.

The proceeds derived from the sale of the Shares will be used to advance the property surface development work prior to the beginning of the previously announced (See Gowest press release October 31, 2016) underground development for the bulk sample on Gowest’s 100% owned Bradshaw Gold Deposit and exploration work on the Company’s North Timmins Gold Project.
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