The company intends to raise upto $1.5m by issuing up to 16,666,667 common shares in the capital on a flow-through basis at a price of $0.06 per FT Unit along with the placement of 10,000,000 units of the Corporation for $0.05 per Unit.
Wescan has plans to forward the placement proceeds to fund further exploration on the firm’s Jojay, Fork Lake, Transom Lake and Tamar Lake gold properties in northern Saskatchewan located in the La Ronge Gold Belt.
The funds raised are also expected to facilitate exploration of the Munro Lake gold property located in northern Saskatchewan.
Both the said transactions are awaiting a regulatory approval by the TSX Venture Exchange.
