VANCOUVER, Apr 7, 2017 - Further to the announcement dated February 16, 2017 and March 31, 2017, WCB Resources Ltd. (TSX VENTURE:WCB) ("WCB" or the "Company") announces it has issued 3,000,000 common shares (the "Shares for Debt Transaction") to one creditor of the Company in consideration for settlement of a total combined debt of $150,000 a deemed price of $0.05 per share. The debt, and current conversion, was an advance to WCB as part of a Heads of Agreement for a proposed merger that was recently terminated. The common shares issued under the Shares for Debt Transaction are subject to a four month hold period that expires on August 8, 2017.
The Company also announces a non-brokered private placement of 6,000,000 common shares at a price of $0.05 per share for gross proceeds of $300,000. Sandfire Resources NL, the Company's largest shareholder, will be participating in the placement. No finder's fees will be paid in connection with the financing.
Qualified Persons
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.
Contact
WCB Resources Ltd. Cameron Switzer, President and CEO +61 7 3212 6212, +61 4 2777 2111 cswitzer@wcbresources.com
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VANCOUVER, Apr 7, 2017 - Further to the announcement dated February 16, 2017 and March 31, 2017, WCB Resources Ltd. (TSX VENTURE:WCB) ("WCB" or the "Company") announces it has issued 3,000,000 common shares (the "Shares for Debt Transaction") to one creditor of the Company in consideration for settlement of a total combined debt of $150,000 a deemed price of $0.05 per share. The debt, and current conversion, was an advance to WCB as part of a Heads of Agreement for a proposed merger that was recently terminated. The common shares issued under the Shares for Debt Transaction are subject to a four month hold period that expires on August 8, 2017.
