Westmount Minerals Bolsters Growth with Private Placement of Common Shares

Westmount Minerals Corp. (CSE: WMC) has announced a non-brokered private placement financing (the "Offering") of up to 25,000,000 common shares of the Company ("Common Shares") at a price of C$0.01 per Common Share for aggregate gross proceeds of up to C$250,000. The Common Shares sold pursuant to the Offering will be subject to a four month hold period pursuant to securities laws in Canada. The Company intends to use the net proceeds of the Offering for general working capital and corporate expenses, including exploration activities on its Ontario lithium and critical minerals projects.

The Offering is subject to certain conditions, including the submission of all required forms to the Canadian Securities Exchange (the "Exchange"). The Exchange has indicated that it does not object to the Company relying on the "financial hardship" exemption to the shareholder approval requirement, as the offering price of the Common Shares is lower than the market price less the maximum applicable discount permitted by the Exchange. The Company will not obtain shareholder approval of the Offering based on the following: (i) the Company is in serious financial difficulty; (ii) the Company has received interest from investors to complete the Offering; (iii) no "Related Person" of the Company will participate in the Offering; and (iv) the independent directors of the Company have voted and determined that the Offering is in the best interests of the Company, is reasonable in the circumstances, and that it is not feasible to obtain shareholder approval or complete a rights offering on the same terms.

The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Westmount Minerals is focused on mineral exploration in the Americas and is well-positioned in the emerging world-class critical minerals district of NW Ontario. The 3,486 hectares, Kaba lithium property, is located in the Georgia Lake, lithium-pegmatite region in close proximity to Rock Tech Lithium Inc. Multiple pegmatite showings have been documented and mapped on the Property by the Ontario Geological Survey. Additionally, Westmount can earn a 100% interest in the 5,002-hectare lithium-pegmatite bearing, Otatakan and Pilot East Lithium properties located near Ear Falls, Ontario. The properties are just south of Green Technologies' expanding Root deposit. The Company has advanced the Douay East gold property located within the greater Abitibi Greenstone Belt region in Quebec to the drill-ready stage.



The private placement of common shares by Westmount Minerals is a strategic move that aligns with the company's growth plans. By raising funds through this offering, Westmount can finance its exploration activities, working capital, and general corporate expenses. This funding will enable the company to maintain its operations, invest in growth opportunities, and potentially increase its market capitalization. However, the issuance of new shares dilutes the ownership of existing shareholders, which could lead to a decrease in the value of existing shares and potentially lower the company's market capitalization. The company must use the raised funds effectively and address any underlying financial issues to ensure long-term stability.



In conclusion, Westmount Minerals' private placement of common shares is a strategic move that supports the company's long-term growth plans. By raising funds through this offering, Westmount can finance its exploration activities, working capital, and general corporate expenses. However, the issuance of new shares dilutes the ownership of existing shareholders, which could lead to a decrease in the value of existing shares and potentially lower the company's market capitalization. The company must use the raised funds effectively and address any underlying financial issues to ensure long-term stability.