Western Star Resources Inc. Closes Fully Subscribed Private Placement
September 26th, 2024 - Western Star Resources Inc. (CSE: WSR) ("Western Star" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement for aggregate gross proceeds of CAD$129,998. The Company issued 1,444,421 million units of the Company, at a purchase price of $0.09 per unit. Each unit is comprised of one common share in the capital of Western Star and one share purchase warrant, which is exercisable into one common share at an exercise price of $0.125 per share expiring September 26, 2026. The Company intends to use the net proceeds from general working capital.
Insiders participated in the placement and, as such, their participation in the Private Placement is a related-party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. There were no finder's fees paid with this Private Placement.
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 Inc.
Western Star 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 km southeast of Revelstoke, BC, and roughly 10 km 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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