Canadian Securities Exchange: WGC
WINNIPEG, Oct. 20, 2016 /CNW/ - Winston Gold Mining Corp. ("Winston Gold" or the "Corporation") (CSE: WGC) (OTCQB:WGMCF) announces that it will undertake a non-brokered private placement for the sale of up to 6,250,000 Class A common shares of the Corporation (the "Shares") at $0.40 per Share for gross proceeds of up to $2,500,000 (the "Offering"). The Offering was priced in the context of the market based on a price reservation made by the Corporation on October 5, 2016.
The Corporation may pay commissions or finder's fees up to the amount allowable by the policies of the Canadian Securities Exchange (the "Exchange") in connection with the Subscriber's subscription for Shares under this Offering.
Closing of the Offering is subject to the receipt of all necessary corporate, regulatory and Exchange approvals. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Murray Nye, the President of the Corporation states: "The net proceeds of this Offering will allow the Corporation to expedite the development of the Corporation's near term US production projects."
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein.
SOURCE Winston Gold Mining Corp.
For further information: ON BEHALF OF THE DIRECTORS OF THE CORPORATION, please contact: Murray Nye, Chief Executive Officer, Suite 201-919 Notre Dame Avenue, Winnipeg, Manitoba, R3E 0M8 Canada, Telephone: (204) 989-2434, E-mail: [email protected]