/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES/
TORONTO, Dec. 30 /CNW/ - Win-Eldrich Mines Limited (TSXV - WEX), a mining exploration and development company, announces
the closing of a non-brokered private placement financing for gross
proceeds of CDN$400,000.
Under the offering, Win-Eldrich issued 1,333,333 Units at a price of
$0.30 per Unit, with each Unit consisting of one common share and
one-half of one common share purchase warrant. Each whole warrant will
entitle the holder to purchase one additional common share at a price
of $0.45 per share for a period of 12 months. Win-Eldrich will have
the right to accelerate the expiry date of the warrants if the closing
price of its shares on the TSX Venture Exchange ("TSXV") exceeds $0.60
for a period of 30 consecutive days on which the TSXV is open for
The proceeds from the offering will be used to fund further exploration
and development of Win-Eldrich's Ashdown molybdenum deposit,
exploration of the Ashdown gold deposit and for general working capital
All securities issued pursuant to the offering are subject to a four
month hold period from the date of issue.
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.
SOURCE WIN-ELDRICH MINES LIMITED
For further information: For further information:
Perry Muller, President, Win-Eldrich Mines Limited, at (402) 435-7206