Winshear GOLD Closes Oversubscribed $750,000 Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
WINSHEAR GOLD CLOSES OVERSUBSCRIBED $750,000 PRIVATE PLACEMENT
Vancouver, December 1, 2021
Winshear Gold Corp. (TSX-V: WINS) reports that it has closed a non-brokered private placement of
7,536,000 Units at $0.10 per Unit for gross proceeds of $753,600. Each Unit is comprised of one
common share and one half of one common share purchase warrant. Each full warrant will allow the
holder to purchase one common share of Winshear Gold at a price of $0.20 for a period of 36 months
from the closing date of the financing up to and including December 1, 2024. Cash commissions
totalling $17,750 was paid on certain subscriptions. All securities issued as part of this private
placement will be subject to a four month plus one day hold period which will expire April 2, 2022.
Proceeds from the financing will be used for exploration, corporate development and general
working capital purposes. Winshear Gold is focused on advancing the Gaban Gold Project to a drilling
programme in south eastern Peru.
This private placement contains related party transactions with insiders purchasing a total of
1,892,000 Units of the placement. These transactions are exempt from the valuation and shareholder
exemption requirements of Multilateral Instrument 61-101 pursuant to, in addition to other sections,
ss. 5.5(a) and 5.7(1)(a) respectively of that Instrument. A material change report was not filed prior
to Closing of this placement due to the uncertainty of knowing, in advance, when and if final TSXV
approval would be obtained, if material details related to the placement would change, and other
material information. The private placement includes the purchase by Palamina Corp., an insider of
the Company, of 1,092,000 Units for a total holding of 11,872,000 shares and 546,000 warrants
representing a 19.99% partially diluted share position in the Company.
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF
1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S.
PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE 1933 ACT.
About Winshear Gold Corp
In 2019 Winshear acquired the Gaban Gold Project in the Puno region, SE Peru and the Tinka IOCG
project in the Ica district, southern Peru, from Palamina Corp. Since then, the Company has
discovered and delineated the Coritiri and Yanamayo bedrock gold anomalies at Gaban to an area of
about 2.2 km by 1 km. Winshear, formerly Helio Resource Corp., has also submitted its memorial of
an arbitration claim of $124.8 million against the Tanzanian government to recover its investment in
the SMP gold project in Tanzania. The costs of arbitration and associated legal fees are fully covered
by an arbitration funding group in return for a share of any proceeds recovered.
For additional information please contact Richard Williams at (604) 200 7874 or by e-mail at
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard D. Williams, P.Geo
NEITHER THE 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.