Gowest Gold Ltd. announced a non-brokered private placement of up to 7,619,048 flow-through units at a price of CAD 0.105 per unit for the gross proceeds of CAD 800,000 on November 21, 2023. Each flow-through unit will comprise one common share and one-half common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the company at a price of CAD 0.14 for a period of 24 months following the closing date of the offering. The transaction is expected to on close or about November 24, 2023.

The closing of the offering is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The company may pay a finder's fee in connection with the offering comprised of a cash fee equal to up to 6% of the gross proceeds received from the sale of FT units sold to purchasers introduced to the company by the finder, and warrants exercisable for a period of 24 months from the date of issuance to acquire that number of common shares of the company, at a purchase price of CAD 0.14 per share, equal to up to 6% of the number of FT units sold to purchasers introduced to the company by the finder. All of the securities issued or issuable pursuant to the offering will be subject to a hold period in Canada expiring four months and one day after the date of issuance.