Wescan Receives Approval of Share Consolidation

Stock Symbol: WGF: TSX-V

SASKATOON, June 22, 2012 /CNW/ - Wescan Goldfields Inc. ("Wescan" or the "Company") announces that it received approval of the shareholders at an annual general and special meeting which was held on June 20, 2012 (the "Meeting") to consolidate of all of the common shares in the capital of the Company (the "Common Shares") on the basis of 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 Consolidation is subject to acceptance by the TSX Venture Exchange. There is no change in Wescan's name in conjunction with the approved Consolidation.

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"

"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."

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 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.


SOURCE Wescan Goldfields Inc.

For further information:

Darren Anderson, President or Harvey Bay, Chief Financial Officer, at (306) 664-2422

Profil de l'entreprise

Wescan Goldfields Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.