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WESCAN GOLDFIELDS INC. ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT AND UPSIZING
WESCAN GOLDFIELDS INC. ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT AND UPSIZING ...
About this update from Wescan Goldfields Inc.
[{"type":"text","content":"\n \n \n \n WESCAN GOLDFIELDS INC. ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT AND UPSIZING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/\n \n \n \n \n \n SASKATOON, SK\n \n \n ,\n \n \n Sept. 29, 2023\n \n \n /CNW/ - Wescan Goldfields Inc. (TSXV: WGF) (\"\n \n Wescan\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has closed the first tranche (the \"\n \n First Tranche\n \n \") of its private placement of flow-through common shares in the capital of the Company (the \"\n \n Flow-Through Shares\n \n \") and units of the Company (the \"\n \n Units\n \n \"), which was previously announced on\n \n September 1, 2023\n \n (the \"\n \n Offering\n \n \"). In addition, Wescan is pleased to announce that, due to investor demand, Wescan is increasing the number of Units offered pursuant to the Offering from up to 2,000,000 to up to 4,000,000, with the aggregate gross proceeds from the Unit component of the Offering increasing from up to\n \n $100,000\n \n to up to\n \n $200,000\n \n .\n \n \n \n \n \n \n \n \n \n The First Tranche consisted of the issuance of: (i) 600,000 Flow-Through Shares at a price of\n \n $0.06\n \n per Flow-Through Share; and (ii) 2,600,000 Units at a price of\n \n $0.05\n \n per Unit, for aggregate gross proceeds of\n \n $166,000\n \n . No Insiders participated in the First Tranche of the Offering.\n \n \n As previously announced, each Unit consists of one common share in the capital of the Company (each, a \"\n \n Common\n \n \n Share\n \n \") and one Common Share purchase warrant of the Company (each, a \"\n \n Warrant\n \n \"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of\n \n $0.06\n \n for a period of twelve months from the date of issuance thereof.\n \n \n All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day in accordance with applicabl...