Winshear Gold raises $2.5 million in private placement

Winshear Gold Corp. (TSX-V: WINS) completed a private placement raising $2.5 million through the sale of 25 million units at $0.10 per unit, according to a company statement.

Each unit consists of one common share and half of one share purchase warrant. The full warrants allow holders to purchase additional shares at $0.20 each for 36 months until March 2, 2029.

The company paid aggregate finder fees of $48,375 in cash and 459,000 warrants to Haywood Securities Inc., Ventum Financial Corp., Canaccord Genuity Corp., and Research Capital Corporation for certain subscriptions. The compensation warrants carry the same terms as subscriber warrants but are non-transferable.

All securities from the placement are subject to a hold period expiring July 3, 2026. Company directors and officers purchased 2.15 million units in the offering, which constitutes a related party transaction under Multilateral Instrument 61-101 but is exempt from valuation and shareholder approval requirements.

Winshear plans to use the proceeds to fund exploration of its Portsoy Project in Scotland and for general working capital. The Vancouver-based minerals exploration company holds a nickel-copper-cobalt project in Scotland and a gold and critical minerals project in Ontario.

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