Wescan Goldfields Closes First Tranche of Private Placement
Wescan Goldfields Inc. (WGF.V) has closed the first tranche of its private placement financing consisting of an aggregate of 6.9 million common shares in the capital of the Corporation.
Common shares of 3.5 million will be issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of $0.06 per FT Unit for aggregate gross proceeds of $210,000.00.
The company intends to apply proceeds realized from the offering to fund further exploration on the Corporation's Jojay, Fork Lake, Transom Lake and Tamar Lake gold properties in northern Saskatchewan located in the La Ronge Gold Belt. The funds will also be used to fund exploration of the Munro Lake gold property also located in northern Saskatchewan, which is on trend with Claude Resources Inc.'s Santoy zones, as well as for general corporate purposes.