NEWS RELEASE
Stock Symbol: WGF: TSX-V
WESCAN GOLDFIELDS INC.
Wescan Goldfields Inc. ("Wescan" or the "Corporation") tranche of its private placement financing consisti ng of an aggregate capital of the Corporation (“Common Shares”) through basis pursuant to the Income Tax Act for aggregate gross proceeds of $210,000.00 Share issued on a flow-through basis (“FT Share”), and one (each a "FT Unit Warrant"). Common Shares (each “Unit”) at a price of $0.05 per Unit for aggr egate gross proceeds of “Offering”). Each Unit will consist of one Common Share issued o n a non flow whole Common Share purchase warrant (each a "Unit Warrant ").
Warrant will entitle the holder thereof to purchase one Common Share on a non flow price of $0.10 for a period of 24 months from th
The Corporation will not be paying Offering.
All securities issued pursuant to the accordance with applicable securities laws and exchange regulations.
The Corporation intends to apply proceeds realized from the Offering to fund further exploration on th e Corporation's Jojay, Fork Lake, Transom Lake and Tamar Lake located in the La Ronge Gold Belt. The funds gold property also located in northern Santoy zones, as well as for general corporate purposes.
Wescan is a Canadian- based corporation engaged in the acquisition, explo ration and development of mineral properties. Shares of Wescan trade on the T SX Venture Exchange "WGF".
For further information please contact: Darren Ande rson, President or Harvey Bay, Chief Financial Officer at (306) 664-2422.
December
Saskatoon, Saskatchewan WESCAN GOLDFIELDS INC. ANNOUNCES CLOSING OF FIRST TRANCHE OF PLACEMENT
Wescan Goldfields Inc. ("Wescan" or the "Corporation") is pleased to announce that it has closed the first tranche of its private placement financing consisti ng of an aggregate of 6,900,000 Common Shares capital of the Corporation (“Common Shares”) . Common Shares of 3,500,000 will be Income Tax Act (Canada) (each a “FT Unit”) at a price of $0.06 per FT Unit $210,000.00 (the ”Offering”). E ach FT Unit will consist of one Common through basis (“FT Share”), and one -half of one Common Share purchase warrant Common Shares of 3,400,000 will be issued on a non flow (each “Unit”) at a price of $0.05 per Unit for aggr egate gross proceeds of $170,000.00 Each Unit will consist of one Common Share issued o n a non flow -through basis, Common Share purchase warrant (each a "Unit Warrant "). Each whole FT Unit Warrant and Warrant will entitle the holder thereof to purchase one Common Share on a non flow - for a period of 24 months from th e date of issuance .
will not be paying certain finder cash fees or finder warrants for the first tranche All securities issued pursuant to the first tranche Offering will be subject to a four month with applicable securities laws and exchange regulations.
The Corporation intends to apply proceeds realized from the Offering to fund further exploration on th e 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 in northern Saskatchewan, which is on trend with Claude Resources Inc.’s Santoy zones, as well as for general corporate purposes.
based corporation engaged in the acquisition, explo ration and development of mineral properties. Shares of Wescan trade on the T SX Venture Exchange under the trading symbol For further information please contact: Darren Ande rson, President or Harvey Bay, Chief Financial December 31, 2012 Saskatoon, Saskatchewan ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE is pleased to announce that it has closed the first Common Shares in the will be issued on a flow- (Canada) (each a “FT Unit”) at a price of $0.06 per FT Unit ach FT Unit will consist of one Common Common Share purchase warrant on a non flow -through basis, $170,000.00 (collectively, the through basis, and one FT Unit Warrant and Unit -through basis at a for the first tranche Offering will be subject to a four month hold period in The Corporation intends to apply proceeds realized from the Offering to fund further exploration on th e in northern Saskatchewan exploration of the Munro Lake with Claude Resources Inc.’s based corporation engaged in the acquisition, explo ration and development of under the trading symbol For further information please contact: Darren Ande rson, President or Harvey Bay, Chief Financial Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements in respect of the proposed Offering including those relating to the t ax treatment of the FT Shares and the use of the ne t proceeds by Wescan. These forward-looking statement s are based on Wescan's current beliefs as well as assumptions made by and information currently avail able to Wescan. Although management considers these assumptions to be reasonable based on informa tion currently available to it, they may prove to b e incorrect. By their very nature, forward-looking st atements involve inherent risks and uncertainties, both general and specific, and risks exist that predicti ons, forecasts, projections and other forward-looki ng statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plan s, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limi ted to, developments in world gold markets, changes in exploration plans due to exploration results and ch anging budget priorities of Wescan, the effects of competition in the markets in which Wescan operates , the impact of changes in the laws and regulations regulating mining exploration and development, judi cial or regulatory judgments and legal proceedings, operational and infrastructure risks and tax treatment of the FT Shares.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The Common Shares and the FT Shar es will not be and have not been registered under the United States Securities Act of 1933 and may no t be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
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"Neither TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in the pol icies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”