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Winshear Gold (TSXV:WINS) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $750,000 from the placement of up to 6,250,000 units priced at $0.12 per unit. The units consist of 1 share and one half a warrant, with each full warrant exercisable at $0.18 for 24 months.

Additional Information:

Company: Winshear Gold
Website: http://www.winshear.com
Stock Symbol: TSXV: WINS
Date Published: Jul 17, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Winshear Gold has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $750,000 from the placement of up to 6,250,000 units priced at $0.12 per unit.

The units consist of 1 share and one half a warrant, with each full warrant exercisable at $0.18 for 24 months.

The shares are currently trading at $0.15.

Proceeds from the financing will be used for exploration, corporate development and general working capital purposes.

In 2019 Winshear Gold Corp. acquired the Gaban Gold Project in the Puno region, southeastern Peru and the Tinka iron oxide copper-gold project in the Ica district, southern Peru, both from Palamina Corp.

Mining is a very important part of the Peruvian economy, consisting of 55% of total exports.

Winshear Gold is currently focused on advancing the large, 18,700 hectare Gaban Gold Project, where an aeromagnetic survey showed a large magnetic high in the centre of the project area, to a drilling programme.

Only area followed up to date is the Coritiri Target where channel sampling defined a 1000 meter x 360 meter zone of gold mineralization open in all directions.

The 1,800 hectare Tinka iron oxide copper-gold property is an early stage project requiring more work to develop drill targets.

It is located at less than 2,000 meters in elevation along the Pan-American highway, 300 kilometers southeast of Lima with excellent road access from the departmental capital city of Ica.

Winshear Gold, which changed its name from Helio Resource Corp. in January to reflect the new focus on Peru, has commenced arbitration against the Tanzanian government to recover its investment in the SMP gold project in Tanzania.

For more information, please visit the company’s website at www.winshear.com, contact Richard Williams, at 604-210-8753 or by email at richard@winshear.com.

I’m Cassandra Bolinski for Investmentpitch Media