Westminster Closes Unit Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - February 3, 2015) - Westminster Resources Ltd. (TSXV: WMR) (the "Company") wishes to announce that it has closed the non-brokered private placement that was initially announced in its press release dated November 28, 2014. The placement will be 14,600,000 units at $0.05 per unit for gross proceeds of $730,000. Each unit will be comprised of one common share and one common share purchase warrant. Each two common share purchase warrants will entitle the holder to purchase one additional common share at $0.10 per share until February 3, 2017.
The shares issued pursuant to the private placement will be legended with a hold period to expire on June 4, 2015. The funds raised will be used to conduct exploration on the Company's SIERRA Project in Sonora, Mexico and for general working capital.
Finder's fees of $3,200 and 64,000 finder's warrants are payable to Global Securities Corp. and $23,200 to Carl Jones.
ON BEHALF OF THE BOARD OF DIRECTORS
Westminster Resources Ltd.
"Glen J. Indra"
About Westminster:
Managed by an experienced exploration team, Westminster is focused on exploring and developing prospects on a land package of approximately 53,613 hectares of contiguous mineral concessions in Sonora, Mexico. These concessions constitute a mineral district scale property serviced by roads, power and water.
For further information regarding Westminster Resources Ltd., please contact Bill Conlin at 604-608-0400, Toll Free: 1-877-608-0007.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.