09:48:37 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Western Star Resources Inc
Symbol WSR
Shares Issued 19,371,000
Close 2023-12-12 C$ 0.08
Market Cap C$ 1,549,680
Recent Sedar Documents

Western Star arranges $800,000 financing

2023-12-12 12:37 ET - News Release

Mr. Blake Morgan reports

WESTERN STAR RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT

Western Star Resources Inc. is proposing a non-brokered private placement offering to raise total gross proceeds of up to $800,000.

Western Star intends to undertake a non-brokered private placement of up to eight million units of securities of the company at a purchase price of eight cents per unit for aggregate gross proceeds of $800,000. Each unit will comprise one common share in the capital of the company and one whole common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at an exercise price of 15 cents at any time up to 36 months following issuance.

Proceeds will be used for general working capital and, more importantly, to define new drill targets on the company's 100-per-cent-owned, high-grade, drill-permitted Western Star property in British Columbia and its high-grade Mount Anderson property in the Yukon.

Insiders may participate 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. Finders' fees in connection with the offering may be payable in accordance with the policies and subject to the approval of the Canadian Securities Exchange. All shares issued in connection with the offering will be subject to a statutory hold period with the following release terms: one-third four months and one day after the closing of the offering, one-third eight months following the date of issuance, and one-third 12 months following the date of issuance. Completion of the offering is subject to the approval of the CSE. Any participation by insiders in the offering will constitute a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

About Western Star Resources Inc.

Western Star Resources 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 totalling 2,797 hectares, which are located within the Revelstoke mining division of British Columbia. The Western Star property group is located approximately 50 kilometres southeast of Revelstoke, B.C., and roughly 10 kilometres north of the abandoned community of Camborne. Access to the Camborne area is via paved highway from either Revelstoke or Nakusp. Access to the property area is best via helicopter from Revelstoke or Nakusp.

We seek Safe Harbor.

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