VANCOUVER, April 25, 2017 /CNW/ - Winston Resources Inc. (CSE: WRW) (the "Company" or "Winston") announce a non-brokered private placement (the "Private Placement") for up to 2,857,143 Units ("Units") at a price of $0.70 per Unit to raise total proceeds of $2,000,000. Each Unit will be comprised of one common share of the Issuer (a "Share") and one common share purchase warrant of the Issuer (each whole warrant, a "Warrant"). Each Warrant will be exercisable into a common share of the Company (a "Warrant Share") at an exercise price of CDN$1.05 with a two year expiry.
Finder's fees or commissions may be payable by the Company in connection with this Private Placement.
The proceeds of this private placement are for the Company's general working capital and potential acquisitions.
ON BEHALF OF THE BOARD OF Winston Resources Inc.
Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
SOURCE Winston Resources Inc.