- Mining company, Winshear Gold (WINS) hopes to raise C$750,000 in proceeds, through its latest non-brokered private placement
- 6.25 million units, containing one common share and half a common share purchase warrant, will sell for 12 cents per unit
- Winshear plans to use the proceeds for exploration, general working capital purposes, and corporate development
- In particular, the company is working to advance its Gaban Gold Project in south-eastern Peru
- Winshear Gold (WINS) remains unchanged and is trading at 15 cents per share
Mining company, Winshear Gold (WINS) hopes to raise C$750,000 in proceeds, through its latest non-brokered private placement.
The private placement will consist of 6.25 million units, which the company will sell for 12 cents per unit. Each unit contains one common share in the company, as well as one half of a common share purchase warrant.
One full warrant will allow the holder to buy one common share in Winshear Gold, at a purchase price of 18 cents. The holder can only do so within a 24-month period, from the closing date of the private placement.
Winshear Gold intends to use the proceeds from the placements for exploration, corporate development, and general working capital purposes. In particular, the company is currently focused on advancing its Gaban Gold Project in south-eastern Peru.
The Gaban Project, located in Peru’s Puno region, was acquired by Winshear Gold in 2019, from Palamina Corp. The company also acquired the Tinka IOCG Project in southern Peru’s Ica district from Palamina at the time.
The company hopes to advance the Gaban Gold Project to a drilling programme soon, with help from this latest financing.
Winshear Gold did not indicate if any of the funds raised during the placement would go towards its arbitration against the Tanzanian Government. Earlier this week, the company commenced proceedings against the Government, with the help of international law firm, LALIVE.
Winshear Gold (WINS) remains unchanged and is trading at 15 cents per share at 9:38am EDT.