Question is now, do they follow through on their obligations, or do they just offer 1 for 3 and attempt take over WEL? Thus consolidating the majority of the corridor and reducing the obigations to advance WEL's joint venture on the poundmaker.

The SKP'y boys can stop selling WEL now as their objective is near completion.

Strikepoint completes $7.18-million private placement

2009-12-17 12:50 ET - News Release

Mr. Richard Boulay reports

STRIKEPOINT GOLD INC. CLOSES $7,188,984 PRIVATE PLACEMENT

Strikepoint Gold Inc. has closed a private placement, led by Dundee Securities Corporation and including PI Financial Corp. The placement included the sale of 4,687,200 common shares issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of $0.47 per flow-through common share for gross proceeds of $2,202,984 and the sale of 12,465,000 non-flow-through units (the "Units") at a price of $0.40 per Unit for gross proceeds of $4,986,000, each Unit being comprised of one common share and one-half of one transferable common share purchase warrant. Each full warrant is exercisable into one common share of the Corporation at an exercise price of $0.60 for a period of 24 months from the closing date. The total gross amount raised in the Offering was $7,188,984. The sale of 12,465,000 Units represents a 125,000 Unit increase over the amount announced in StrikePoint's press release of November 30, 2009.

As consideration to the Agents, the Corporation has paid a commission of 6.0% of the total proceeds raised upon closing and has issued Agents' warrants (the "Agents' Warrants") equal to 6.0% of the Units and Flow-Through Common Shares issued pursuant to this Offering. Each Agents' Warrant will be exercisable to acquire one common share at $0.60 for a period of 24 months from the closing date. The securities issued under this financing will be subject to a four month hold period from the date of closing of the offering. The Corporation intends to use the net proceeds for exploration of its mineral properties located in Manitoba. Expenditures from the Flow-Through Common Shares will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2009 taxation year.