pcNewsWire – Westminster Resources Ltd. (TSX-V: WMR; OTCPK: WMRSF; FSE: TQ08W) has closed the first tranche of previously announced private placement, raising gross proceeds of $978,000 through the issuance of 8,150,000 units at $0.12 per unit. The company expects to soon close a second final tranche of up to an additional $462,000.
WESTMINSTER CLOSES $978,000 1st TRANCHE OF FINANCING
Westminster Resources Ltd. (TSX.V-WMR) (WMRSF PinkSheets) (TQ08W1 Frankfurt Stock Exchange) announces that it has closed the first tranche of a private placement, raising gross proceeds of $978,000. The Company issued 8,150,000 units at a price of $0.12 per unit and expects to soon close a second final tranche of up to an additional $462,000.
The unit financing was announced on May 3, 2017 and consists of one common share and one share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.16 per share for a period of 5 years from closing, subject to TSX Venture Exchange approval.
Finders’ fees were paid in connection with the initial tranche in the amount of $38,500.
ON BEHALF OF THE BOARD OF DIRECTORS WESTMINSTER RESOURCES LTD.
Glen Indra, President.
Managed by an experienced team, Westminster is focused on exploring and developing prospects on a land package of approximately 17,854 hectares of continuous mineral concessions in Sonora, Mexico. The Company’s focus has been to assemble and explore unique and newly-discovered targets including (a) the Guayacan partially unroofed epithermal and cooper-gold porphyry system, and (b) the Sierra Hydrothermal diatreme breccia tertiary rhyolite hosted structure. Systematic exploration of the Company’s new mineral district is ongoing in this region of Sonora with well-developed infrastructure, favorable permitting, and a strong mining history and community support.
For further information regarding Westminster Resources Ltd., please contact Bill Conlin at 604-608-0400, Toll Free: 1-877-608-0007.
Neither TSX Venture Exchange nor its Regulations 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: Westminster Resources Ltd.