/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CALGARY, Nov. 6, 2012 /CNW/ - WesCan Energy Corp. (TSX
Venture Exchange: WCE) (the "Corporation") announces that it
intends to conduct a non-brokered private placement offering of up
to 3,750,000 common shares (the "Common Shares") at a price
of $0.20 per share for gross proceeds
of up to CDN$750,000 (the
"Offering").
The net proceeds of the Offering will be used
for general corporate purposes, including debt reduction and
efforts to accelerate business development activities. The Offering
is expected to close on or about November
16, 2012.
The Common Shares will be subject to a
four-month hold period from the date of issuance in accordance with
applicable securities laws. The Offering is subject to certain
conditions including, but not limited to, the execution of
definitive documentation and the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILTY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Reader Advisory
The information in this news release includes certain
information and statements about management's view of future
events, expectations, plans and prospects, including the size of,
and use of proceeds from, the Offering, the completion of the
Offering and the anticipated closing date of the Offering that
constitute forward looking statements.
These statements are based upon assumptions
that are subject to significant risks and uncertainties. Because of
these risks and uncertainties and as a result of a variety of
factors, the actual results, expectations, achievements or
performance may differ materially from those anticipated and
indicated by these forward looking statements. Although the
Corporation believes that the expectations reflected in
forward-looking statements are reasonable, it can give no
assurances that the expectations of any forward-looking statements
will prove to be correct. The size of the Offering may change based
on market demand and closing of the Offering may not be completed
if definitive documentation cannot be finalized or the Corporation
is unable to obtain the necessary regulatory and stock exchange
approvals on the timelines it has planned or if some other
condition to the closing is not satisfied. Accordingly, there is a
risk that the Offering will not be completed within the anticipated
time, on the terms currently proposed, or at all. The intended use
of the proceeds of the Offering by the Corporation might change if
the board of directors of the Corporation determines that it would
be in the best interests of the Corporation to deploy the proceeds
for some other purpose. The forward looking statements contained in
this press release are made as of the date hereof and the
Corporation undertakes no obligations to update publically or
revise any forward looking statements or information, whether as a
result of new information, future events or otherwise, unless so
required by applicable securities laws.
This news release shall not constitute an
offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of securities in any state
in the United States in which such
offer, solicitation or sale would be unlawful. The securities
referred to herein have not been and will not be registered under
the United States Securities Act of 1933, as amended, and may not
be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements.
SOURCE WesCan Energy Corp.