WESTSTAR $9.0 MILLION FINANCING
VANCOUVER, BC -- (Marketwire) -- 05/03/11 -- Weststar Resources Corp. (TSX-V: WER FSE:
HN3) (the 'Company') has arranged, subject to TSX Venture Exchange
approval, a non- brokered private placement of 10,000,000 units at $0.90
per unit for total gross proceeds of $9,000,000. Each unit will consist of
one common share and one half of a transferable share purchase warrant,
each whole warrant is exercisable into one additional common share at a
price of $1.50 per share for a period of one year from the date of closing.
Proceeds of the financing will be utilized for the Company's recently
announced La Paloma acquisition in Mexico and for general working capital.
Finders' fees may be payable in whole or in part on the units issued under
the financing, in accordance with TSX Venture Exchange policy.
For further info on the Company please visit www.weststarresources.com or
email info@weststarresources.com .
On Behalf of the Board
Mitchell Adam, President
Weststar Resources Corp.
'Neither 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 announcement is distributed by Thomson Reuters on behalf of
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Source: Weststar Resources Corp. via Thomson Reuters ONE
[HUG#1511668]
Weststar Resources Corp.
Suite 4006 - 1011 West Cordova Street
Vancouver, B.C. V6C 0B2
Telephone: (604) 678-5308
Fax: (604) 678-5309