Westward Gold Inc. Closes Private Placement Raising Over C$8.2 Million

Vancouver, British Columbia — October 7, 2026 — Leads & Copy — Westward Gold Inc. has successfully closed a non-brokered private placement, raising approximately C$8.28 million. The offering involved the issuance of 33,128,000 units at C$0.25 per unit. Each unit consists of one common share and one-half of a common share purchase warrant. These warrants allow holders to acquire an additional common share at C$0.40 for a period of 24 months following the closing date.

The placement saw significant participation from existing strategic shareholders Crescat Capital LLC and Concept Capital Management Ltd., who collectively invested $2.8 million. Crescat subscribed for 7,200,000 units, totaling approximately $1.8 million, bringing their post-offering basic ownership to roughly 12.6% and partially diluted ownership to approximately 21.5%. Concept Capital invested approximately $1 million for 4,000,000 units, resulting in a post-offering basic ownership of about 9.6% and a partially diluted ownership of approximately 17.0%.

The company stated that the offering did not result in the creation of a new Control Person, as defined by CSE policies, due to restrictions on warrant exercisability that prevent a holder from exceeding 20% ownership.

Proceeds from the offering are earmarked for several key initiatives. A significant portion will fund ongoing drilling at Westward's flagship Toiyabe Hills Property, located on the Cortez Trend in Nevada. This includes further trenching, geological mapping, soil and rock-chip sampling, and geophysical surveys. Additionally, funds will be used to increase cash bonding for Westward’s Plan of Operations with the U.S. Bureau of Land Management, enabling expanded ground disturbance. The remaining capital will serve general working capital purposes.

Securities issued in the offering are subject to a four-month-and-one-day hold period in accordance with Canadian securities laws and CSE requirements. In connection with the placement, qualified finders received C$234,815 in cash finder's fees, 1,219,260 finder's warrants exercisable at $0.30 per common share for 24 months, and 280,000 finder's units on the same terms as the units issued to investors.

The participation of certain company insiders in the offering, representing an aggregate of 8,160,000 units for approximately $2.04 million (including Crescat's investment), was deemed a related party transaction under MI 61-101. However, exemptions from formal valuation and minority shareholder approval were granted, as the value of units subscribed by insiders did not exceed 25% of the company's market capitalization.

The offered securities have not been registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption. The press release explicitly states it does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such activity would be unlawful.

Westward Gold is a mineral exploration company concentrating on the Toiyabe Hills Project in Nevada and the Coyote and Rossi Projects in Elko County, Nevada. The company also evaluates potential acquisition of other mineral exploration assets.

Source: Westward Gold Inc.