Business
Wescan completes private placement for $604,950
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE DISTRIBUTION SERVICES/ Stoc...
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, July 29 /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 2,749,756 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 $0.22 per FT\nShare for aggregate proceeds of $604,950.00 (the "Offering").\n\n\nThe Corporation will pay certain finders (each a "Finder") cash fees\nequal to 7% of the gross proceeds raised by such Finder of the Offering and\nthe Corporation will issue warrants ("Finder's Warrants") equal to 7% of the\nnumber of FT Shares attributable to such Finder. Each Finder's Warrant will\nentitle the holder to acquire one Common Share on a non flow-through basis at\nan exercise price of $0.30 per Common Share for a period of 12 months from the\ndate of issuance.\n\n\nAll securities issued pursuant to the Offering, including the Finder\nWarrants, are subject to a four month hold period in accordance with\napplicable securities laws and exchange regulations.\n\n\nProceeds raised will be applied to fund exploration of the Corporation's\ncoal 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\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":2046,"tagName":"div"}]