Business
WESCAN COMPLETES PRIVATE PLACEMENT FOR $570,000
WESCAN COMPLETES PRIVATE PLACEMENT FOR $570,000
About this update from Wescan Goldfields Inc.
[{"type":"text","content":"\n\n\n\n Dec. 7, 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 DISTRIBUTION SERVICES/ \n\n\nStock Symbol: WGF: TSX-V\n\n\nSASKATOON, Dec. 7 /CNW/ - Wescan Goldfields Inc. ("Wescan" or the\n "Company") is pleased to announce that it has completed a private\n placement financing (as announced on December 2, 2010) consisting of an\n aggregate of 9,499,999 units of the Company ("Units") at a price of\n $0.06 per Unit, for gross proceeds of $570,000 (collectively, the\n "Offering"). Each Unit consists of one Common Share, and one half of\n one Common Share purchase warrant (each a half "Unit Warrant"). Each\n whole Unit Warrant entitles the holder thereof to purchase one Common\n Share at a price of $0.10 for a period of 12 months from the time of\n issuance.\n\n\nInsiders of the company purchased $100,000 of Units.\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\n Offering, and will issue such Finder warrants equal to 7% of the number\n of Units attributable to such Finder pursuant to the Offering (the\n "Finder's Warrants"). The Company will issue 226,216 in Finder's\n Warrants in relation to the Placement. 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...