Financings
WESCAN GOLDFIELDS INC. ANNOUNCES UPSIZING OF PRIVATE PLACEMENT

WGF · Price
Executive Summary
- Wescan Goldfields Inc. is increasing its private placement offering from up to 10 M units to up to 12 M units, raising the potential gross proceeds from $500 K to $600 K.
- Each unit consists of one common share and one warrant (exercise price $0.10, 24‑month term).
- Proceeds are earmarked for updating the Jojay mineral resource estimate, technical work on the historic Jasper mine and Munro Lake project, supporting 2026 exploration permitting/planning, and general working capital.
Key Details
- Upsized Offering Size: Up to 12,000,000 units (previously up to 10,000,000).
- Potential Gross Proceeds: Up to $600,000 from the unit component (previously up to $500,000).
- Unit Composition: 1 common share + 1 common‑share purchase warrant per unit.
- Warrant Terms: Exercise price $0.10 per share; exercisable for 24 months from issuance.
- Closing Timeline: Expected closing on or about December 19, 2025; may occur in one or more tranches but no later than December 30, 2025, subject to Exchange approval.
- Statutory Hold Period: All securities issued are subject to a four‑month‑plus‑one‑day hold period under applicable legislation and TSX Venture Exchange rules.
- Use of Proceeds (if fully subscribed):
- Update Mineral Resource Estimate on the Jojay property.
- Review technical information for historic Jasper mine and Munro Lake project to support permitting and planning for 2026 exploration programs.
- General working capital.
- If Not Fully Subscribed: Proceeds will be allocated to the above uses in priority, at the discretion of directors and management, based on what is deemed in the best interests of the company.
- Regulatory Statements: No material fact or change undisclosed; offering not registered in the United States and subject to applicable exemptions.
Notable Quotes
(No direct quotes were included in the release.)
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