Stock Symbol: WGF:
TSX-V
SASKATOON, SK, May 7, 2021 /CNW/ - Wescan Goldfields Inc.
("Wescan" or the "Corporation") announces that it
intends to seek the approval of shareholders at an annual general
and special meeting to be held on June 8,
2021 (the "Meeting") to consolidate of all of the
common shares in the capital of the Corporation (the "Common
Shares"). The approval sought will be the consolidation of the
Common Shares on the basis of a ratio not greater than one new
share for ten old shares (the "Consolidation"), with such
ratio to be determined by the board of directors of Wescan (the
"Board").
The proposed Consolidation is subject to shareholder approval
and supporting documentation being accepted for filing by the TSX
Venture Exchange. In conjunction with the proposed Consolidation,
Wescan also intends to seek the approval of shareholders to change
of the name of the Corporation to such name as the Corporation's
Board of Directors, in its sole discretion, determines.
The Corporation also announces that it intends to extend the
expiry date of an aggregate of 2,100,000 stock options
(collectively, the "Options") issued during the month of
May 2016 with exercise prices of
$0.05 per option share, to the date
that is seven years from each of the Option's grant date (the
"Amendment"). The Amendment is subject to TSX Venture Exchange
approval.
Wescan is a Canadian-based corporation engaged in the
acquisition, exploration and development of mineral properties.
Common Shares trade on the TSX Venture Exchange under the trading
symbol "WGF".
Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements in respect of the Meeting and the
proposed Consolidation. These forward-looking statements are based
on Wescan's current beliefs as well as assumptions made by and
information currently available to Wescan. Although management
considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect. By their
very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that
predictions, forecasts, projections and other forward-looking
statements will not be achieved. We caution readers not to place
undue reliance on these statements as a number of important factors
could cause the actual results to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates
and intentions expressed in such forward-looking statements. These
factors include, but are not limited to, developments in world gold
markets, changes in exploration plans due to exploration results
and changing budget priorities of Wescan, the effects of
competition in the markets in which Wescan operates, the impact of
changes in the laws and regulations regulating mining exploration
and development, judicial or regulatory judgments and legal
proceedings, operational and infrastructure risks and the
additional risks identified in the management discussion and
analysis section of our interim and most recent annual financial
statement or other reports and filings with the TSX Venture
Exchange and applicable Canadian securities regulation.
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release."
SOURCE Wescan Goldfields Inc.
