Wescan to Seek Approval of Proposed Share Consolidation and NAME Change
NEWS RELEASE June 29, 2023
Stock Symbol: WGF: TSX-V Saskatoon, Saskatchewan
WESCAN TO SEEK APPROVAL OF PROPOSED SHARE CONSOLIDATION
AND NAME CHANGE
Wescan Goldfields Inc. ("Wescan" or the "Corporation”) announces that it intends to seek the approval
of shareholders at an annual general and special meeting to be held on July 26, 2023 (the "Meeting”) to
consolidate all outstanding common shares in the capital of the Corporation (the "Common Shares”). The
approval sought will be for the consolidation of the Common Shares on a ratio not greater than one new
share for ten old shares (the "Consolidation”), with such ratio to be determined by the board of directors
of Wescan (the "Board").
The proposed Consolidation is subject to shareholder approval and supporting documentation being
accepted for filing by the TSX Venture Exchange. In conjunction with the proposed Consolidation, Wescan
also intends to seek the approval of shareholders to change of the name of the Corporation to such name as
the Corporation’s Board, in its sole discretion, determines.
Wescan is a Canadian-based corporation engaged in the acquisition, exploration and development of
mineral properties. Common Shares trade on the TSX Venture Exchange under the trading symbol "WGF".
Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements in respect of the Meeting and the proposed
Consolidation. These forward-looking statements are based on Wescan's current beliefs as well as assumptions made by and
information currently available to Wescan. Although management considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-
looking 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, plans, objectives, expectations, anticipations,
estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, developments
in world gold markets, changes in exploration plans due to exploration results and changing 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, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the
additional risks identified in the management discussion and analysis section of our interim and most recent annual financial
statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulation.
For further information please contact Ken MacNeill, Chief Executive Officer
[email protected] or (306) 224-5480
w
ww.wescangoldfields.com
- END -
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release."