Vancouver, B.C. - May 16th, 2013 - Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that the previously announced non-brokered private placement of 2,000,000 units at $0.10 for gross proceeds of $200,000 is fully subscribed and the Company is processing documentation for immediate closing of the placement. No warrants were issued with this placement.
The net proceeds from the sale of shares will be used to fund the upcoming drill program on the Shovelnose gold property and general working capital.
The company may pay a cash finder's fee to certain finders of up to 8% of the aggregate gross proceeds of the private placement. All securities issued pursuant to the private placement will be subject to a four month hold period from the date of issuance. Completion of the private placement is subject to TSX Venture Exchange approval.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Gareth Thomas, Director
About Westhaven Ventures Inc.
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose gold and BEN projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven´s website at www.westhavenventures.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.