Early Warning Report Filed Pursuant To National Instrument 62-103
This news release is being disseminated as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the acquisition of securities of Wescan Goldfields Inc. (TSXV: WGF) ("Wescan" or the "Company") by Mr. Kenneth E. MacNeill ("Mr. MacNeill" or the "Acquiror").
As of December 22, 2025, there are 53,684,320 issued and outstanding common shares of Wescan ("Common Shares"). Mr. MacNeill currently has beneficial ownership and control over an aggregate of 9,832,711 Common Shares as a result of an acquisition of 1,000,000 Common Shares through the TSX Venture Exchange on January 2, 2025. Mr. MacNeill's current shareholdings represent an aggregate ownership of approximately 18.3% of the outstanding and issued Common Shares (on a non-diluted basis).
On November 9, 2015, Mr. MacNeill acquired 5,000,000 Common Shares through a private placement of 17,500,000 Common Shares at the offering price per Common Share of $0.02 for aggregate gross proceeds of $100,000 (the "2015 Private Placement").
Immediately following the 2015 Private Placement, Mr. MacNeill had beneficial ownership and control over an aggregate of 6,532,711 Common Shares, representing an aggregate ownership of approximately 17.53% (on a non-diluted basis) of the total issued and outstanding Common Shares as of the date thereof.
On September 6, 2016, Mr. MacNeill acquired 2,300,000 Common Shares through a private placement of 10,000,000 Common Shares at the offering price per Common Share of $0.05 for aggregate gross proceeds of $115,000 (the "2016 Private Placement").
Immediately following the 2016 Private Placement, Mr. MacNeill had beneficial ownership and control over an aggregate of 8,832,711 Common Shares, representing an aggregate ownership of approximately 19.86% (on a non-diluted basis) of the total issued and outstanding Common Shares as of the date thereof and an approximate 2% increase in shareholdings from the date of the 2015 Private Placement.
Prior to the 2015 Private Placement, Mr. MacNeill had beneficial ownership and control over 1,532,711 Common Shares, representing approximately 7.83% of the total issued and outstanding Common Shares as of December 31, 2012.
Mr. MacNeill acquired the securities of the Company for investment purposes and may, depending on the market and other conditions, increase, decrease or change his beneficial ownership and control over the Common Shares or other securities of the Company through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.
This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated December 22, 2025. The related early warning report has been filed on SEDAR+ (www.sedarplus.ca) under Wescan's issuer profile.
To obtain a copy of the early warning report filed by Mr. MacNeill, please contact Kenneth E. MacNeill at (306) 244-5480or refer to SEDAR+ (www.sedarplus.ca) under Wescan's issuer profile.
SOURCE Kenneth E. MacNeill