Winston Gold Corp.
WINNIPEG, MB / ACCESSWIRE / July 15, 2021 / Winston Gold Corp. ("Winston Gold" or the "Corporation") (CSE:WGC) (OTCQB:WGMCF) is pleased to announce a private placement (the "Private Placement"), prepayment financing (the "Prepayment Financing") and strategic partnership that will provide the financing to bring the Winston Gold project near Helena, Montana, into commercial production and to also develop additional toll milling solutions to fill the Paradine Mill to capacity. Highlights of the Private Placement are summarized below.
The Private Placement consists of a minimum of 6.67 million to a maximum of 40 million "Units" at C$0.075 per Unit (the "Offering Price"). Each Unit consists of one common share (a "Share") and one purchase warrant (a "Warrant"). Each full Warrant will entitle the holder to purchase an additional common share of the Corporation at an exercise price of $0.105 per share for a period of 2 years from the closing of the Private Placement. The minimum gross proceeds expected to be raised are C$500,000, with maximum gross proceeds of C$3,000,000.
All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Finder fees may be payable on a portion of the financing according to the policies of the CSE.
The net funds raised will be mainly used for bringing the Winston Gold project into full commercial production, for exploration to develop the expected high-grade gold resources and to further develop toll-milling operations.
Under the terms of the Private Placement, detailed within a non-binding term sheet and completion of its conditions, Ocean Partners USA, Inc. ("Ocean Partners") will subscribe for a minimum lead order of 6,666,667 Units of the Private Placement, for a subscription of C$500,000, and to match the purchase of any additional Units on one to two basis up to a maximum of C$1,000,000 (including the lead order) subscribed by Ocean Partners assuming an additional C$1,000,000.00 raised from third parties and an aggregate of C$2,000,000 raised. The Corporation will also welcome an additional C$1,000,000 of financing to be raised from other third parties with no matching from Ocean Partners for an aggregate of C$3,000,000.00.
For the commitment provided by Ocean Partners, it is expected Ocean Partners will receive fees of C$50,000 as a commitment fee equivalent to 5.0% of C$1,000,000 payable in cash or Units.
Other than Units sold to Ocean Partners, the Company may pay finder's fees up to 5.0% to other finders in cash or in Units.
Prepayment Financing
Subject to the completion of certain conditions precedent, Ocean Partners shall provide Winston Gold a revolving US$2 million revolving prepayment (the "Prepayment") repayable against concentrate deliveries available for drawing until December 31, 2023.
The Prepayment shall be used for general working capital and to finance, ore and concentrate stockpiles on-site and shall bear interest at LIBOR + 8.25%.
The Prepayment shall be secured by a fixed and floating charge over Winston Gold's assets and contractual arrangements.
On the closing date of the Prepayment, Ocean Partners shall receive 7,500,000 warrants exercisable into one common share at an exercise price of C$0.105, with said warrants expiring on December 31, 2023.
Offtake Agreement
Winston Gold has executed a Definitive Offtake Agreement with Ocean Partners for the sale of gold/silver concentrate and the agreement (the "Agreement") is expected to be extended to a minimum total of 25,000 tonnes of concentrate deliveries and marketed at market rates.
The terms and conditions of the Agreement are confidential between the parties.
Strategic Partnership
With the market expertise and marketing ability of Ocean Partners. Winston Gold and Ocean Partners shall jointly develop opportunities to process third party ore through the Paradine Mill with Ocean Partners to provide working capital financing and purchase the resultant concentrate offtake.
It is expected that the Board of Winston Gold will appoint Mr. Brent Omland, as a Director, following regulatory approval. Mr. Omland is a Canadian Chartered Accountant with 15 years' experience in the mining, metals and trading sectors. He has held roles with Ivernia Inc., Enirgi Metals Group and Teck. He is currently Chief Financial Officer of Ocean Partners.
Murray Nye, Chief Executive and Director commented: "This Offtake Agreement for gold/silver concentrate from the Winston Gold Mine along with the Financing arrangement represents a milestone achievement for the Company and enhances our ability to transition from development to commercial operations".
Joseph Carrabba, Executive Chairman commented: "We are pleased to appoint Brent Omland to the Board of Winston Gold and look forward to a long term relationship with Ocean Partners in enhancing shareholder value"
The transactions contemplated by the Private Placement and the Prepayment Financing and are subject to approval by the Winston Gold Board of Directors, the Ocean Partners Board of Directors and the Canadian Stock Exchange, and may be subject to additional regulatory approvals.
The CSE has neither approved nor disapproved the information contained herein. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Ocean Partners
Ocean Partners specializes in the trading of precious metal concentrates, copper, zinc and lead, as well as related by-products and secondary materials. Ocean Partners also provides tolling solutions to central milling operations on a small to large scale and blending solutions for complex precious and base metal concentrates. The Ocean Partners team is mainly formed of ex. mining and smelting industry professionals and has spent over 25 years providing successful trading services to miners, smelters, and refiners, and has a strong global network of relationships and contacts in the base and precious metal mining and smelting sector.
About Winston Gold
Winston Gold is a junior mining company focused on advancing high-grade, low-cost mining opportunities into production. Towards that end, the Corporation has acquired the under-explored and under-exploited Winston Gold project near Helena, Montana.
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Winston Gold Mining Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
For more information, please visit www.winstongoldmining.com; or contact:
Murray Nye,
Chief Executive Officer and a Director of Winston Gold
Suite 201-919 Notre Dame Avenue
Winnipeg, Manitoba, R3E 0M8
Telephone: (204) 989-2434
E-mail: murray@winstongold.com
SOURCE: Winston Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/655629/Winston-Gold-Announces-a-Private-Placement-Prepayment-Financing-and-Strategic-Partnership-To-Continue-To-Expand-Production-and-Fund-Additional-Exploration-and-Development
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
Sweden, the Czech Republic, and Greece Crowned Champions of Harm Reduction in Brussels3.7.2025 06:00:00 CEST | Press release
BRUSSELS, BE / ACCESS Newswire / July 3, 2025 / Brussels transformed into a Champions League pitch for tobacco harm reduction as the World Vapers' Alliance (WVA) honoured Sweden, the Czech Republic, and Greece with the "Champions of Change" trophy for their outstanding progress in cutting smoking rates. The ceremony, staged in front of the European Parliament, shone a spotlight on the countries leading Europe's fight against smoking-while EU officials looked on from the sidelines. WVA Director Michael Landl, presenting the awards, remarked, "The EU is stuck in a cycle of prohibition and continues to overlook the evidence that's saving lives. Instead of embracing proven solutions, Brussels is making it harder for smokers to quit." Sweden led the celebrations, having become the world's first officially smoke-free nation, with just 4.5% of Swedish-born adults smoking-five times lower than the EU average and 16 years ahead of the EU's own goal. The Czech Republic and Greece were also recog
Fineqia Issues Bitcoin Yield ETP via DeFi; Yield Compounds Investors' BTC Holdings2.7.2025 17:00:00 CEST | Press release
LONDON, UK / ACCESS Newswire / July 2, 2025 / Fineqia International Inc. (CSE:FNQ)(OTC:FNQQF) (Frankfurt:FNQA), a digital asset and investment business, announces the Fineqia Bitcoin Yield Exchange Traded Product (ETP) (Ticker: YBTC, ISIN: LI1444931821), a listed product that enables investors to garner additional Bitcoin while holding it. YBTC targets an annual yield of 6% via decentralised finance (DeFi) activities on the blockchain. YBTC automatically converts this yield into Bitcoin (BTC), increasing an investor's BTC holdings without requiring any additional capital. Listed on the Vienna Stock Exchange (Wiener Börse), it is the first regulated, exchange-traded instrument in the world to provide BTC yield from DeFi protocols. The product is available for institutional and retail investors. "With YBTC, we've transformed Bitcoin from a store of value into a yield-generating digital asset," said Bundeep Singh Rangar, chief executive officer of Fineqia. "It allows investors to earn mor
Global Sports Brand U.S. Polo Assn. Launches in Brazil With Grupo Pasquini2.7.2025 13:15:00 CEST | Press release
WEST PALM BEACH, FL AND SAO PAULO, BRAZIL / ACCESS Newswire / July 2, 2025 / U.S. Polo Assn., the official brand of the United States Polo Association (USPA), is proud to announce its launch in the Brazilian market in partnership with Grupo Pasquini, a leading player in the country's fashion industry. This expansion reinforces the global, sport-inspired brand's presence in Latin America and further supports U.S. Polo Assn.'s strategic growth plan to reach new consumers around the world.U.S. Polo Assn. As U.S. Polo Assn. continues to expand its multi-billion-dollar global presence, Brazil marks an exciting new chapter in the brand's international journey. With its vibrant retail landscape and deep-rooted passion for lifestyle fashion, Brazil offers a natural fit for U.S. Polo Assn.'s authentic connection to the sport of polo. The debut collection in Brazil will showcase timeless, versatile styles across both menswear and womenswear, designed to honor the heritage of the sport while embr
Picktan Capital to Post Record Q2 Amid Market Buzz Over Possible IPO1.7.2025 20:55:00 CEST | Press release
LONDON, UK / ACCESS Newswire / July 1, 2025 / Picktan Capital, a London-headquartered wealth management firm managing over $7 billion in client assets globally, is attracting attention amid growing speculation about a potential public listing. The firm is on track to report its strongest quarterly performance to date, marking a significant milestone in its global growth strategy. With a strong emphasis on emerging technologies and disciplined capital deployment, Picktan Capital's momentum in 2024 has captured the interest of both investors and analysts. Picktan's second-quarter performance reflects a maturing investment approach grounded in both innovation and long-term value. The firm's activity across pivotal sectors, notably aerospace innovation, AI development, and satellite communications, has translated into meaningful gains and reinforced confidence in its forward strategy. Rather than chasing trends, Picktan has concentrated on sectors undergoing structural transformation. Its
DASA, Latin America's Largest Diagnostic Provider, Selects AGFA HealthCare's Enterprise Imaging Platform in Flagship Agreement1.7.2025 10:00:00 CEST | Press release
AGFA HealthCare is proud to announce a landmark achievement: the adoption of its Enterprise Imaging Platform by the largest integrated health network in Latin America - and the fifth largest globally. MORTSEL, BE / ACCESS Newswire / July 1, 2025 / DASA (Diagnósticos da América S.A.) operates an extensive hospital network across Brazil and Argentina, bringing together more than 40 healthcare provider brands. In 2024, DASA and Amil announced the creation of a joint venture that consolidates 25 hospitals and over 4,400 beds, making DASA the second largest hospital group in Brazil. With 321 branches across Brazil, DASA delivers more than 15.2 million clinical studies per year, serves 55,000 patients daily, and processes around 10 million tests monthly - solidifying its leading role in healthcare delivery across the region.AGFA HealthCare After a thorough evaluation process, DASA selected AGFA HealthCare's Enterprise Imaging Platform. Key moments in the decision journey included live demons
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom