WellStar Energy Announces $100,000 Financing
June 20 2008 - 1:27PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: WST)(FRANKFURT: W6V)
announces that it plans to conduct a private placement (the
"Offering") of its securities to raise up to $100,000.
The Offering will consist of up to 2,000,000 units at a price of
$0.05 per unit (a "Unit"). Each Unit will consist of one common
share and one share purchase warrant (a "Warrant") entitling the
investor to purchase an additional common share for each Warrant at
a price of $0.065 per share for a two year period. In addition, all
Warrants issued in connection with this private placement contain a
forced exercise provision commencing on the day following the
expiry of the hold period on the underlying common share, stating
that if, for 10 consecutive trading days, the closing price of the
listed shares of the company exceeds $1, then the exercise period
of the Warrants will be shortened to a period of 30 days.
The proceeds received from the offering will be added to the
Company's working capital. The Company will pay finder fees in
connection with this offering in accordance with TSX Venture
Exchange policy. The Offering is subject to TSX Venture Exchange
acceptance.
This News Release contains forward-looking statements regarding
the timing and content of upcoming programs. Actual results may
differ materially from those currently anticipated in such
statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release, which
was prepared by management.
Contacts: WellStar Energy Corp. Andrew H. Rees President &
C.E.O. (604) 669-6463 or Toll Free: 1-800-663-9688 (604) 669-3041
(FAX) Email: andrewhr@wellstarenergy.com Website:
www.wellstarenergy.com
Westridge Resources Inc. (TSXV:WST)
Historical Stock Chart
From May 2024 to Jun 2024
Westridge Resources Inc. (TSXV:WST)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about (TSX Venture Exchange): 0 recent articles
More WellStar Energy Corp. News Articles