Owner
Post by Franko10 ™ on Sept 28, 2005 15:57:06 GMT -5
Wescan completes $3,900,000 financing
Stock Symbol: WGF: TSX-VEN
SASKATOON, Sept. 28 /CNW/ - George Sanders, President of Wescan Goldfields Inc. ("Wescan") is pleased to report the completion of the second and final closing of its non brokered private placement of an aggregate of 3,081,142 Units of Wescan at a price of $0.35 per Unit for gross proceeds of $1,078,399.70 and of an aggregate of 2,065,113 flow through shares at a price of $0.43 per share for gross proceeds of $887,998.59. Each Unit consists of one share and one half of one common share purchase warrant, with each whole warrant exercisable into one common share for a period of 12 months from September 28, 2005 upon payment by the holder of $0.45 per common share. All of the securities will be subject to a four-month hold period in accordance with applicable securities laws.
Together with the first closing on September 22, 2005, the cumulative completed non brokered private placements amount to 5,437,628 Units of Wescan at a price of $0.35 per Unit for gross proceeds of $1,903,169.80 and 4,691,236 flow through shares at a price of $0.43 per share for gross proceeds of $2,017,231.48. Total gross proceeds are $3,920,401.28.
Finders' fees of 6% cash, totalling $95,404.40, and a 6% warrant fee, totalling 241,898 warrants, are payable on a portion of the second closing of these placements.
Wescan is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the trading symbol "WGF".
"The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."
For further information: please contact: George Sanders, President or Wade MacBain, Corporate Development at (306) 664-2422
Stock Symbol: WGF: TSX-VEN
SASKATOON, Sept. 28 /CNW/ - George Sanders, President of Wescan Goldfields Inc. ("Wescan") is pleased to report the completion of the second and final closing of its non brokered private placement of an aggregate of 3,081,142 Units of Wescan at a price of $0.35 per Unit for gross proceeds of $1,078,399.70 and of an aggregate of 2,065,113 flow through shares at a price of $0.43 per share for gross proceeds of $887,998.59. Each Unit consists of one share and one half of one common share purchase warrant, with each whole warrant exercisable into one common share for a period of 12 months from September 28, 2005 upon payment by the holder of $0.45 per common share. All of the securities will be subject to a four-month hold period in accordance with applicable securities laws.
Together with the first closing on September 22, 2005, the cumulative completed non brokered private placements amount to 5,437,628 Units of Wescan at a price of $0.35 per Unit for gross proceeds of $1,903,169.80 and 4,691,236 flow through shares at a price of $0.43 per share for gross proceeds of $2,017,231.48. Total gross proceeds are $3,920,401.28.
Finders' fees of 6% cash, totalling $95,404.40, and a 6% warrant fee, totalling 241,898 warrants, are payable on a portion of the second closing of these placements.
Wescan is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the trading symbol "WGF".
"The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."
For further information: please contact: George Sanders, President or Wade MacBain, Corporate Development at (306) 664-2422
