West Point Gold announces private placement of up to $20 million

West Point Gold Corp. (TSXV: WPG) announced it entered into an engagement letter with SCP Resource Finance LP to offer up to 18,181,900 common shares at C$1.10 per share through a private placement, according to a company statement.

The offering could raise aggregate gross proceeds of up to C$20,000,090. The company plans to use net proceeds for exploration at its Gold Chain Project in Arizona and for general corporate and working capital purposes.

SCP Resource Finance will serve as lead agent for a syndicate of agents conducting the offering on a "commercially reasonable efforts" basis. The agents will receive a cash commission of 5% of gross proceeds, reduced to 2% for shares sold to purchasers on the company president's list.

Agents may elect to receive up to 50% of their cash commission in shares at the issue price. They will also receive broker warrants equal to 5% of shares sold, exercisable at the issue price for two years from closing, though no warrants will be issued for president's list sales.

The offering is scheduled to close on or about February 17, 2026, subject to TSX Venture Exchange approval and regulatory authorities. Company officers and directors may participate in the offering.

Securities issued will be subject to a statutory hold period of four months and one day from issuance date. The company noted the securities have not been registered under U.S. securities laws.

West Point Gold focuses on exploration and development projects along Nevada and Arizona's Walker Lane Trend, with the Gold Chain Project in Arizona as its near-term priority.

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