Mark Sander reports
WINSHEAR INCREASES PRIVATE PLACEMENT TO $650,000
Winshear Gold Corp., pursuant to the news release dated July 22, 2022, has increased its non-brokered private placement financing to $650,000.
The financing will now consist of up to 10,833,333 units priced at six cents per unit, whereby each unit comprises one common share of the company and one-half warrant, whereby one full warrant entitles the holder to purchase one common share of the company for 10 cents per common share at any time within 24 months of closing the financing. All shares issued will be subject to a four-month-plus-one-day hold period from the date of issuance. Completion of the private placement is subject to certain conditions, including the approval of the TSX Venture Exchange. All securities issued as part of this private placement will be subject to a hold period of four months and one day from the date of issuance of the securities. A finder's fee commensurate with regulatory policies may be paid if applicable.
The financing is expected to close on or about Aug. 19, 2022.
Proceeds from the financing will be used for exploration, corporate development and general working capital purposes. Winshear Gold is focused on advancing the Gaban gold project to a drilling program in southeastern Peru, and has also commenced arbitration against the Tanzanian government to recover its investment in the SMP gold project in Tanzania.
About Winshear Gold Corp.
In 2019 Winshear Gold acquired the Gaban gold project in the Puno region, southeastern Peru, and the Ica IOCG (iron oxide copper gold) project in the Ica district, southern Peru, from Palamina Corp.
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