Announcement • 18h
Wescan Goldfields Inc. announced that it has received CAD 2.515532 million in funding On June 18, 2026, Wescan Goldfields Inc. closed the transaction. The company issued 500,000 Units at an issue price of CAD 0.22 per Unit for gross proceeds of CAD 110,000 in its third and final tranche. The Company paid no finders fees paid in connection with the final tranche. In aggregate the company issued a total of 11,434,237 Units at a price of CAD 0.22 for total gross proceeds of CAD 2,515,532.14.Aggregate finders' fees in connection with the Offering were paid by the Company in the amount of CAD 125,145 in cash and through the issuance of an aggregate of 568,840 Common Share purchase warrants (the "Finders' Warrants"), each whole Finders' Warrant exercisable for one full Common Share at a price of CAD 0.35 per share for twenty-four months from the date of issuance thereof. Completion of the Offering remains subject to final acceptance of the Exchange. New Risk • Jun 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.8m (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-CA$85k). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$13.8m market cap, or US$9.93m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). New Risk • May 30
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$85k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-CA$85k). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (CA$14.5m market cap, or US$10.5m). 
