Vancouver, BC / October 26, 2015: Weststar Resources Corp. ($WER:CNX) (the “Company”) is pleased to announce that the Company has closed a Non-Brokered Private Placement Financing (the “Private Placement”) for gross proceeds of $509,000.
The Company has allotted and issued 10,180,000 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 $30,800 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 email@example.com.
On Behalf of the Board
Will Rascan, President/CEO
Weststar Resources Corp.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer