Winston Gold Raises $2.38 Million in Non-Brokered Private Placement

Winston Gold (CSE:WGC) has announced that it has closed a non-brokered private placement of Class A common shares at $0.40 per share, consisting of 5,968,750 shares for gross proceeds of $2,387,500.

Murray Nye, CEO and director, said:

We are very pleased to have completed this second round of financing. The continued support from our shareholders, not only speaks to the quality of our team but to the potential of our two high-grade gold projects.

As quoted in the press release:

The Corporation has paid finder cash commissions totalling $80,480.00, being 8% of the aggregate proceeds from the sale of Shares to purchasers introduced by the finders. The Corporation has also issued non transferable Class A common share finder broker warrants totalling 201,200 warrant shares, being 8% of the number of Shares to purchasers introduced by the finders, each warrant entitling the holder to purchase one additional Share in the share capital of the Corporation, at an exercise price of $0.40, exercisable on or before November 18, 2018.

“Our plan is to continue our aggressive drilling campaign at the Winston project, with the goal of delineating the most dominant and accessible mineralizing structures,” said Mr. Nye. “This information will be fundamental to planning and executing our next phase of development which will be underground test mining.”

Click here to read the full press release.

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