By Laura Lutz
Washington, Feb. 5 - Weststar Resources Corp. arranged a private placement of units for C$1.04 million.
The company plans to sell up to 1.6 million flow-through units of one share and one half-share non-transferable warrant for C$0.65 per unit. Each whole warrant will be exercisable at C$0.80 for one year.
Expiry of the warrants may be accelerated to 30 days if the company's shares trade above C$0.96 for 10 consecutive trading days.
Weststar is a resource exploration company based in Vancouver, B.C.
| Issuer: | Weststar Resources Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.04 million
|
| Units: | 1.6 million
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.80
|
| Pricing date: | Feb. 5
|
| Stock symbol: | TSX Venture: WRC
|
| Stock price: | C$0.80 at close Feb. 2
|
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