WINNIPEG, MANITOBA-Winston Gold Mining Corp. (“Winston Gold” or the “Corporation”) (CSE:WGC)(CSE:WGC.CN)(OTCQB:WGMCF) is pleased to announce that it intends to undertake a non-brokered equity private placement (the “Financing”). The Financing is expected to raise gross proceeds of approximately $300,000 by the issuance of 5,000,000 units (each a “Unit”) at a price of $0.06 per Unit. Each Unit will consist of one common share and one share purchase warrant (each a “Warrant”), and each Warrant will entitle the holder thereof to purchase one additional common share of the Company at a price of $0.15 per share for a period of 60 months from the closing date. Following the expiry of any resale restrictions required by applicable securities laws, the Company will use reasonable commercial efforts to list the Warrants for trading on the Canadian Securities Exchange.
The net proceeds from the Financing will be used by the Company to further develop its mineral properties and for general working capital purposes.
The Financing is subject to acceptance of the Canadian Securities Exchange.
About Winston Gold
Winston Gold is a junior mining company focused on advancing high-grade, low cost mining opportunities into production. Towards that end, the Corporation has acquired two under-explored and under-exploited gold/silver mining opportunities, being the Winston Gold project near Helena, Montana, and the Gold Ridge project, near Willcox, Arizona.
On behalf of the Board of Directors of the Company
Murray Nye, Chief Executive Officer and a director of Winston Gold
The CSE has neither approved nor disapproved the information contained herein.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Source: Winston Gold Mining Corp.