Weststar Resources Closes First Tranche of Financing for $323,000
23.07.2015 | The Newswire
Vancouver, July 23, 2015 - Weststar Resources Corp. (CSE: WER) (the "Company") is pleased to announce that the Company has closed a first tranche of a Non-Brokered Private Placement Financing (the "Private Placement") for gross proceeds of $323,000.The Company has allotted and issued 6,460,000 units (the "Units") at a price of $0.05 per Unit. Each Unit consists of one common share in the capital of the Company and one share purchase warrant (the "Warrant"). Each Warrant is exercisable by the holder to acquire one additional common share of the Company for a period of two years from issuance at an exercise price of $0.075 per share. Proceeds from the Private Placement will be used to further its due-diligence in North Road Ventures and fulfill the terms of the Business Arrangement, as per the Company's news release dated July 21, 2015, assess other potential business opportunities and for general working capital.
In relation to the Private Placement, the Company has paid a finder's fee of $12,100 to an arm's-length third party. All securities issued pursuant to the Private Placement are subject to a four-month and one-day hold period.
For further info on the Company please visit www.weststarresources.com or email info@weststarresources.com.
Behalf of the Board
Will Rascan, President/CEO
Weststar Resources Corp.
(604) 683-3995
Copyright (c) 2015 TheNewswire - All rights reserved.