Winston Resources Inc.: CEO Closes Sale of Shares and New Directors and Officers Appointed
30.12.2016 | FSCwire
Winston Resources Inc (CSE: WRW) (“Winston” or “the Company”) announces that, Daniel Wettreich a director and CEO of Winston, has closed the previously announced sale of the majority of his shareholdings in Winston.The shares were acquired by Anthony Jackson and a number of investors (collectively “Purchasers”), from Sammiri Capital Inc, a private company owned by Daniel Wettreich, (“Wettreich”). The total amount of 6,410,518 common shares of Winston representing 65% of the issued and outstanding share capital of Winston were sold for the payment of CAD$100,000 at a deemed price of CAD$0.0156 per share. Wettreich has also granted Purchasers a 60 day option to acquire 3,478,340 $0.05 warrants to Purchasers for $34,783. Further, Purchasers entered into a loan agreement with Winston (“Loan Agreement”), in the amount of CAD$150,000 which amount will be used to repay the outstanding payables and indebtedness of Winston.
Winston has appointed Shawn Bromley a director and CEO, Anthony Jackson a director, and Quinn Field-Dyte a director. Daniel Wettreich has retired as a director and CEO, Mark Wettreich has retired as a director and Corporate Secretary, and Peter Wanner, Paul Cullingham and David Lonsdale have retired as directors.
About Winston Resources
Winston is a Toronto based company listed on the Canadian Securities Exchange and owns a 25% interest in the Pigeon River exploration project in Ontario, Canada. For more information please contact Anthony Jackson at (604) 283 1722.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Winston Resources Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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