Winwell Ventures Inc.

January 21, 2011 18:13 ET

Winwell Ventures Completes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2011) - Winwell Ventures Inc. (the "Company") announces the completion of the non-brokered private placement consisting of 20,650,000 common shares at a price of $0.05 per share for gross proceeds of $1,032,500.

All securities issued in connection with this private placement are subject to a hold period in Canada that expires on May 19, 2011.

The proceeds of the private placement will be used by the Company for general working capital purposes and future business opportunities.

Early Warning Reports

Mr. Bill McCartney, of Vancouver, British Columbia, reports that he has acquired ownership and control of 2,500,000 common shares of the Company in this private placement at a price of $0.05 per common share. The 2,500,000 common shares acquired by Mr. McCartney represents 11.8% of the Company's issued and outstanding common shares. After giving effect to the acquisition of the common shares, Mr. McCartney beneficially owns, directly or indirectly, or controls 2,552,708 common shares of the Company, which represents approximately 12.1% of the Company's issued and outstanding common shares.

Mr. Randy Smallwood, of Delta, British Columbia, reports that he has acquired ownership and control of 4,000,000 common shares of the Company in this private placement at a price of $0.05 per common share. The 4,000,000 common shares acquired by Mr. Smallwood represents 18.9% of the Company's issued and outstanding common shares. After giving effect to the acquisition of the common shares, Mr. Smallwood beneficially owns or controls 4,000,000 common shares of the Company which represents approximately 18.9% of the Company's issued and outstanding common shares.

Mr. George Salamis, of North Vancouver, British Columbia, reports that he has acquired ownership and control of 4,000,000 common shares the Company in this private placement at a price of $0.05 per common share. The 4,000,000 common shares acquired by Mr. Salamis represents 18.9% of the Company's issued and outstanding common shares. After giving effect to the acquisition of the common shares, Mr. Salamis beneficially owns or controls 4,000,000 common shares of the Company, which represents approximately 18.9% of the Company's issued and outstanding common shares.

Mr. McCartney, Mr. Smallwood and Mr. Salamis acquired the common shares for investment purposes and they each intend to evaluate the investment in the Company and to increase or decrease their respective shareholdings as they may determine for investment purposes.

Copies of the Early Warning Reports being filed by Mr. McCartney, Mr. Smallwood and Mr. Salamis with the applicable securities regulators regarding the transaction will be available on SEDAR (www.sedar.com). Copies of the Early Warning Reports and further information may also be obtained by contacting Murray Oliver, a director of the Company at 604-687-0888.

ON BEHALF OF THE BOARD

Murray Oliver, Director

Contact Information

  • Winwell Ventures Inc.
    Murray Oliver
    Director
    604-687-0888
    604-687-0885 (FAX)