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Winshear Gold Corp. Announces $500,000 Private Placement
VANCOUVER, British Columbia, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSX-V: WINS) announces a non-brokered private placement of 5,000,000 Units a
About this update from Winshear Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSX-V: WINS) announces a non-brokered private placement of 5,000,000 Units at $0.10 per Unit for gross proceeds of $500,000. Each Unit comprises one common share and one half of one common share purchase warrant. Each full warrant will allow the holder to purchase one common share of Winshear Gold at a price of $0.20 for a period of 36 months from the closing date of the financing. A finder's fee commensurate with regulatory policies may be paid if applicable. Winshear Gold is focused on advancing the Gaban Gold Project to a 2022 initial drilling programme in southeastern Peru. Proceeds from the financing will be used for exploration, corporate development and general working capital purposes while the permitting process for drilling at Gaban is completed. Completion of the private placement is subject to certain conditions, including the approval of the TSX Venture Exchange. All securities issued as part of this private placement will be subject to a hold period of four months and one day from the date of issuance of the securities. About Winshear Gold Corp In 2019 Winshear acquired the Gaban Gold Project in the Puno region, SE Peru and the Tinka IOCG project in the Ica district, southern Peru, from Palamina Corp. Since then, the Company has discovered and delineated the Coritiri and Yanamayo bedrock gold anomalies at Gaban to an area of about 2.2 km by 1 km. Winshear, formerly Helio Resource Corp., has also submitted its memorial of an arbitration claim of $124.8 million against the Tanzanian government to recover its investment in the SMP gold project in Tanzania. The costs of arbitration and associated legal fees are fully covered by an arbitration funding group in return for a share of any proceeds recovered. For additional information please contact Richard Williams by e-mail at [email protected] or Mark Sander at [email protected]. ON BEHALF OF THE BOARD OF DIRECTORS “Richard D. Williams”Richard D. Williams, P.Geo NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Caution Regarding Forward Looking Statements Certain of the statements made and information contained in this pre...