/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. WIRE SERVICES/
Stock Symbol: WGF: TSX-V
SASKATOON, May 2, 2018 /CNW/ - Wescan Goldfields Inc.
("Wescan" or the "Company") is pleased to announce that it is
undertaking a private placement financing consisting of an
aggregate of up to 625,000 Flow-Through Common Shares of the
Company at a price of $0.08 per
Flow-Through Common Share, for gross proceeds of up to $50,000 (collectively, the "Offering").
Insiders may participate at greater than 25% of the
Offering.
The proceeds from the Offering will be used by Wescan to incur
Canadian exploration expenses ("Qualifying Expenditures") on the
Company's Munro Lake gold property prior to December 31, 2019. Wescan will renounce the
Qualifying Expenditures to subscribers of Flow-Through Common
Shares for the fiscal year ended December
31, 2018.
The Offering will be conducted pursuant to prospectus
exceptions, including sales to accredited investors and to close
personal friends and business associates of directors and officers
of the Company. Subscribers purchasing shares under the prospectus
exemptions for accredited investors and close personal friends and
business associates of directors and officers of the Company will
need to make customary representations and warranties in writing
that they meet certain requirements of the exemptions.
Closing of the private placement is subject to the receipt of
applicable regulatory approvals including approval of the
TSX-V.
The offer and sale of the securities offered in the Offering
has not been and will not be registered under the US Securities Act
of 1933, as amended, or any state securities laws, and such
securities may not be offered or sold in the United States absent registration or
applicable exemption from such registration requirements. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States or in any jurisdiction in
which the offer, sale or solicitation would be unlawful.
Wescan is a Canadian based corporation engaged in the
acquisition, exploration and development of mineral properties.
Shares of Wescan trade on the TSX-V under the trading symbol
"WGF".
"Neither 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."
SOURCE Wescan Goldfields Inc.