Original News Release
Western Star arranges $1.5-million private placement
Mr. Blake Morgan reports
WESTERN STAR RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FOR AGGREGATE PROCEEDS OF CAD $1,500,000 WITH LEAD ORDER OF $700,000
Western Star Resources Inc. intends to complete a non-brokered private placement of up to 7.5 million units of the company at a price of 20 cents per unit for aggregate gross proceeds of up to $1.5-million.
Each of the units will consist of one common share and one share purchase warrant, which is exercisable at 35 cents for two years.
All securities issued under the offering and including the warrants will be subject to a four-month holding period.
The company intends to use the net proceeds to define high-priority drill targets at its Western Star project and to complete its critical metals move into Nevada, and for general working capital and market awareness. The private placement remains subject to receipt of all required approvals, including the approval of the Canadian Securities Exchange, as well as execution of formal documentation.
Additional information
Additional information about the company and the transaction is available on SEDAR+ under the company's profile. The summary of the transaction set out above is qualified in its entirety by reference to the description of the transaction in the company's filing statement posted on SEDAR+.
About Western Star Resources Inc.
Western Star Resources is a mineral exploration and development company. The company's objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders. The company currently owns nine non-surveyed contiguous mineral claims totalling 2,797 hectares, which are located within the Revelstoke mining division of British Columbia. The Western Star property group is located approximately 50 kilometres southeast of Revelstoke, B.C., and roughly 10 kilometres north of the abandoned community of Camborne.
We seek Safe Harbor.
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