27 June 2014
Not for dissemination in the United States or through U.S. newswires.
Vancouver, B.C. – West Melville Metals Inc. (WMM:TSX-V) (“West Melville” or the “Company”) today announced that it intends to complete a non-brokered private placement of up to 7,000,000 units at a price of $0.05 per unit for gross proceeds of $350,000. Each unit will consist of one common share and one common share purchase warrant. Each whole common share purchase warrant will be exercisable into one common share for a period of three years from closing at a price of $0.15 per share, subject to the Company's right to accelerate the exercise of the warrants if the daily volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange is equal to or exceeds $0.35 for a period of 10 consecutive trading days during the term of the warrant, commencing four months after the date the warrants are issued. The terms and completion of the private placement are subject to TSX Venture Exchange approval.