WEL:CA of Winnipeg announced today that it has completed its $250,000 private placement of 3,571,428 units at .07 cents. Each unit comprises a common share and one-half of a common share purchase warrant, which entitles the holder to buy another common share at .14 cents in the next 18 months.
The private placement funds will be used to pay for the costs of exploration at its Rice Lake gold project and its Reed Lake copper-platinum project in Manitoba and its Foster River zinc-lead-silver project in Saskatchewan.
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President and CEO John Knowles