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Winshear Gold to Pay CDN $0.25 Per Share Return of Capital
VANCOUVER, British Columbia, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSXV: WINS) (‘Winshear’, the ‘Company’, or the ‘Claimant’) reports that the
About this update from Winshear Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Winshear Gold Corp. (TSXV: WINS) (‘Winshear’, the ‘Company’, or the ‘Claimant’) reports that the Board of Directors has decided, in light of the US$30 million settlement reached with Government of the United Republic of Tanzania (see news release dated October 16, 2023), to make a Return of Capital payment to shareholders of CDN $0.25 per Winshear common share. The Record Date (set at close of business on that date) and the Payment Date for the distribution are as follows: RECORD DATE Thursday, November 23, 2023 PAYMENT DATE Friday, December 8, 2023 This payment will be in Canadian dollars unless otherwise determined by the Company and by way of a return of capital. The tax consequences of the return of capital will be dependent on the particular circumstances of each shareholder. Richard Williams, CEO of the Company, stated; “This is the appropriate thing to do for our shareholders who have stood by the Company through some challenging times. The return of capital will make up for some of the losses incurred by shareholders as a result of the expropriation of the SMP Gold Project in Tanzania. It will allow us to retain sufficient capital to complete a first pass drill programme at the Gaban Gold Project in Peru in the second quarter of 2024, after the coming rainy season ends.” About Winshear Gold Corp. Winshear Gold Corp. is a Canadian-based minerals exploration company advancing the Gaban Gold Project in the Puno region of Peru. Gaban is a possible hard-rock source for the modern-day alluvial gold rush underway in the Madre de Dios basin downstream. For more information, please contact Irene Dorsman at +1 (604) 200 7874 or visit www.winshear.com ON BEHALF OF THE BOARD OF DIRECTORS “Richard D. Williams”Richard Williams, CEO 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. Cautions Regarding Forward-Looking Statements This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of his...