Wescan completes private placement for $561,200

About this update from Wescan Goldfields Inc.

[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE\nDISTRIBUTION SERVICES/\n\nStock Symbol: WGF: TSX-V\n\n\nSASKATOON, Oct. 27 /CNW/ - Wescan Goldfields Inc. ("Wescan" or the\n"Corporation") is pleased to announce that it has closed a private placement\nfinancing consisting of an aggregate of 2,440,000 common shares in the capital\nof the Corporation ("Common Shares") issued on a flow-through basis pursuant\nto the Income Tax Act (Canada) (each a "FT Share") at a price of $0.23 per FT\nShare for aggregate proceeds of $561,200.00 (the "Offering"). Insiders of the\nCorporation purchased an aggregate of $50,600.00 of FT Shares.\n\n\nAll securities issued pursuant to the Offering are subject to a four\nmonth hold period in accordance with applicable securities laws and exchange\nregulations.\n\n\nProceeds raised will be applied to fund exploration of the Corporation's\nnew coal project near Hudson Bay, Saskatchewan as well as other corporate\nportfolio projects.\n\n\nWescan is a Canadian-based corporation engaged in the acquisition,\nexploration and development of mineral properties. Shares of Wescan trade on\nthe TSX Venture Exchange under the trading symbol "WGF".\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this News Release.\n\n\n%SEDAR: 00021049E\n\n\n","length":1545,"tagName":"div"}]

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