Business
WESCAN ANNOUNCES PRIVATE PLACEMENT
WESCAN ANNOUNCES PRIVATE PLACEMENT
About this update from Wescan Goldfields Inc.
[{"type":"text","content":"\n\n\n\n Dec. 2, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE\n DISTRIBUTION SERVICES/\n\n\nStock Symbol: WGF: TSX-V\n\n\nSASKATOON, SK, Dec. 2 /CNW/ - Wescan Goldfields Inc. ("Wescan" or the\n "Company") is pleased to announce that it is undertaking a private placement financing consisting of up to 9,500,000\n units of the Company ("Units") at a price of $0.06 per Unit, for gross proceeds of\n $570,000 (collectively, the "Offering"). Each Unit consists of one Common Share,\n and one half of one Common Share purchase warrant (each a half "Unit Warrant"). Each\n whole Unit Warrant entitles the holder thereof to purchase one Common Share at a\n price of $0.10 for a period of 12 months from the time of issuance.\n\n\nInsiders will be participating in the private placement.\n\n\nThe Company will pay certain finders (each a "Finder") cash fees equal\n to 7% of the gross proceeds raised by such Finder pursuant to the Offering, and will\n issue such Finder warrants equal to 7% of the number of Units attributable to such Finder\n pursuant to the Offering (the "Finder's Warrants"). No such fees are payable on\n securities purchased by insiders of the Company.\n\n\nAll securities issued pursuant to the Offering are subject to a four\n month hold period in accordance with applicable securities laws and exchange regulations.\n\n\nProceeds raised wil...