Western Star Resources Inc Announces Private Placement
August 8th, 2024 - Western Star Resources (CSE: WSR) ("Western Star" or the "Company") is pleased to announce a non-brokered private placement of up to CAD$130,000 (the "Offering"). The Company intends to issue up to 1,444,444 million units of the Company, at a purchase price of $0.09 per unit. Each unit will comprise of one common share (each a "Common Share") in the capital of Western Star and one full purchase warrant. Full warrants are exercisable into one Common Share of the Company at an exercise price of $0.125 per share at any time up to 24 months following the closing date. The Company intends to use the net proceeds for general working capital.
Completion of the Offering is subject to the approval of the CSE. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer.
Additional Information
Additional information about the Company and the Transaction is available on SEDAR at www.sedarplus.ca 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
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 totaling 2,797 hectares, which are located within the Revelstoke mining division of British Columbia. The Western Star property group is located approximately 50 kilometers southeast of Revelstoke, B.C., and roughly 10 kilometers north of the abandoned community of Camborne.
Contact Information:
Blake Morgan,
CEO and Director
blake@acvc.vc
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute "forward-looking information". In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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