TSX-V: WPQ
VANCOUVER,
Sept. 19, 2012 /CNW/ - WPC Resources
Inc. ("WPC" or the "Company") is pleased to announce a non-brokered
private placement (the "Private Placement") pursuant to which WPC
proposes to issue up to 7,692,307 units at a price of $0.065 per unit for gross proceeds of up to
$500,000. The Private Placement
is subject to the approval of the TSX Venture Exchange.
Each unit under the Private Placement will
consist of one common share and one transferable common share
purchase warrant. Each common share purchase warrant will
entitle the holder to purchase one additional common share of the
Company at an exercise price of $0.12
for 24 months following the closing of the Private Placement (the
"Closing").
The Company will use the net proceeds of the
Private Placement to fund the work program on the Company's
"Toiyabe Pediment" and "ZPG" properties which are located in
central Nevada within the Battle
Mountain-Eureka Trend near the Cortez District.
About WPC Resources Inc.
WPC Resources Inc. is a Vancouver, British Columbia based gold
exploration and development company.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND
INFORMATION
This news release contains certain
"forward-looking information" within the meaning of Canadian
securities laws. Actual results may differ materially from those
indicated by such forward-looking information. All information
included herein, other than statements of historical fact,
including, without limitation, information regarding future
production, is considered forward-looking information and involves
various risks and uncertainties. There can be no assurance that the
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. 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.
SOURCE WPC Resources Inc.