Announcement • May 01
Wescan Goldfields Inc. announced that it expects to receive CAD 2.5 million in funding Wescan Goldfields Inc. announced a private placement to issue 11,363,636 units at an issue price of CAD 0.22 for the proceeds of CAD 2,499,999.92 on April 30, 2026. Each Unit will consist of one common share in the capital of the Company and one half Common Share purchase warrant of the Company Each whole Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of CAD 0.35 for a period of twenty-four months from the date of issuance thereof. Insiders may participate up to 20% of the Offering. The Offering will be conducted pursuant to available exemptions from the registration and prospectus requirements of applicable securities legislation, including sales through investment dealers, sales to accredited investors and sales to close personal friends and business associates of directors and officers of the Company. The Company intends to solicit subscriptions from subscribers who are not currently shareholders of the Company pursuant to these exemptions. The Company may also pay finders' fees to eligible finders in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange"). The finders' fees will consist of cash equal to 6% of the proceeds raised pursuant to the Offering and one whole Common Share purchase warrant of the Company in an amount equal to 6% of the number of Units issued pursuant to the Offering that are attributable to finders. Each whole Finders' Warrant will entitle the holder thereof to purchase one Common Share at a price of CAD 0.35 for a period of twenty-four months from the date of issuance thereof. Closing of the Offering is subject to the receipt of the approval of the Exchange. The Offering is expected to close on or about May 22, 2026, provided that the Offering may close in one or more tranches, but in any event no later than May 29, 2026. All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day in accordance with applicable securities legislation and Exchange regulations. New Risk • Jan 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (53% average weekly change). Negative equity (-CA$434k). Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$11.5m market cap, or US$8.37m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Jan 01
Wescan Goldfields Inc. announced that it has received CAD 0.6 million in funding On December 31, 2025. Wescan Goldfields Inc. announced that it has closed the transaction. It has issued 12,000,000 Units at a price of 0.05 per unit for gross proceeds of CAD 600,000. In connection with the Offering, the Company paid certain finders' fees in an aggregate amount of CAD 31,800, in cash, and issued an aggregate of 636,000 Common Share purchase warrants to certain eligible finders in accordance with the policies of the TSX Venture Exchange. Announcement • Dec 02
Wescan Goldfields Inc. announced that it expects to receive CAD 0.5 million in funding Wescan Goldfields Inc. announced a private placement of up to 10,000,000 units at a price of CAD 0.05 per Unit, for aggregate gross proceeds of up to CAD 500,000 on December 1, 2025. Each Unit will consist of one common share and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of CAD 0.10 for a period of twenty-four months from the date of issuance thereof. The Company may also pay finders' fees to eligible finders in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange"). The finders' fees will consist of cash of 6% of the proceeds raised under the Offering and Warrants (the "Finder Warrants") in an amount equal to 6% of the number of Units issued pursuant to the Offering that are attributable to finders. Each Finder Warrant will entitle the holder thereof to purchase one Common Share at a price of CAD 0.10 for a period of twenty-four months from the date of issuance thereof. Closing of the Offering is subject to the receipt of the approval of the Exchange. The Offering is expected to close on or about December 20, 2025, provided that the Offering may close in one or more tranches, but in any event no later than December 30, 2025. All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day in accordance with applicable securities legislation and Exchange regulations. Board Change • Sep 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 23
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 10
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 15
Wescan Goldfields Inc., Annual General Meeting, Jun 18, 2025 Wescan Goldfields Inc., Annual General Meeting, Jun 18, 2025. Board Change • Mar 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 26
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 26
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-CA$42k). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$2.66m market cap, or US$1.96m). Minor Risk Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Board Change • Sep 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 03
Wescan Goldfields Inc. announced that it expects to receive $0.3 million in funding Wescan Goldfields Inc. announced a non-brokered private placement of up to 3,333,333 flow-through common shares in the capital of the company at a price of $0.06 per flow-through share and up to 2,000,000 units of the company at a price of $0.05 per unit for the aggregate gross proceeds of $300,000 on September 1, 2023. Each unit will consist of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.06 for a period of 12 months from the date of issuance thereof. Insiders may participate at greater than 25% of the offering. The company may also issue common shares from treasury and warrants, in an amount equal to 6% of the aggregate number of flow-through shares and units issued pursuant to the offering that are attributable to finders. Each finder's warrant will entitle the holder thereof to purchase one common share at a price of $0.06 for a period of 12 months from the date of issuance thereof. The transaction is expected to close on or about September 20, 2023, provided that the offering may close in one or more tranches, but in any event no later than September 27, 2023. All securities issued pursuant to the offering are subject to a statutory hold period of four months and one day in accordance with applicable securities legislation and exchange regulations. The transaction is subject to the approval of the TSX Venture Exchange. New Risk • Aug 26
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$42k 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 Less than 1 year of cash runway based on free cash flow trend (-CA$215k free cash flow). Shares are highly illiquid. Negative equity (-CA$42k). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$2.25m market cap, or US$1.66m). Board Change • Jul 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 03
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 19
Wescan Goldfields Inc., Annual General Meeting, Jul 26, 2023 Wescan Goldfields Inc., Annual General Meeting, Jul 26, 2023. Board Change • May 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 06
Wescan Goldfields Inc. Announces Resignation of Greg Shyluk as Chief Financial Officer, Effective January 19, 2023 Wescan Goldfields Inc. announced the resignation of Greg Shyluk as Wescan's Chief Financial Officer effective January 19, 2023. The Company is working with Mr. Shyluk to ensure a smooth transition following his departure. Mr. Shyluk has served as the Company's Chief Financial Officer since 2013. Wescan thanks Mr. Shyluk for his service and wishes him the best in his future endeavours. Board Change • Dec 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 06
Wescan Goldfields Inc., Annual General Meeting, Jun 07, 2022 Wescan Goldfields Inc., Annual General Meeting, Jun 07, 2022. Board Change • Mar 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 11
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Director Val Michasiw was the last director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.