WMR-TSX.V
VANCOUVER, Dec. 24, 2014 /CNW/ - Westminster Resources
Ltd. (the "Company") (TSX-V: WMR), announced a private placement of
up to 15,000,000 units at $0.05 per
unit to raise gross proceeds of up to $750,000 (the "Offering") on November 28, 2014. The Company intends to
undertake the Private Placement financing on a non-brokered basis,
using available prospectus exemptions, including the exemption
under BCI 45-534 – Exemption from Prospectus Requirement for
Certain Trades to Existing Security Holders, (effective
March 2014) whereby all existing
shareholders of the Company will have the right to
participate. To that end, the Company advises that:
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(a)
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all persons who held
common shares of the Company on December 19, 2014 (the "record
date") are eligible to participate in the Private
Placement;
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(b)
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the minimum size of
the Private Placement is $500,000 of gross subscription proceeds
(10,000,000 units), and the maximum size of the Private Placement
is $750,000 of gross subscription proceeds (15,000,000
units);
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(c)
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the Private Placement
proceeds will be used to conduct exploration on the Company's
SIERRA Project in Sonora, Mexico and for general working capital
requirements; and
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(d)
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the Company will
allocate units to investors on a pro-rata basis as to amounts
subscribed if aggregate subscriptions exceed the maximum number of
units proposed to be sold.
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ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
"Glen J.
Indra"
About Westminster:
Managed by an experienced exploration team, Westminster is focused on exploring and
developing prospects on a land package of approximately 53,613
hectares of contiguous mineral concessions in Sonora, Mexico. These concessions
constitute a mineral district scale property serviced by roads,
power and water.
Neither the 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.
This news release may contain forward-looking information
which is not comprised of historical facts. Forward-looking
information involves risks, uncertainties and other factors that
could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking information. Forward looking information in
this news release may include, but is not limited to, the Company's
objectives, goals or future plans. Factors that could cause actual
results to differ materially from such forward-looking information
include, but are not limited to, those risks set out in the
Company's public documents filed on SEDAR. Although the Company
believes that the assumptions and factors used in preparing the
forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
SOURCE Westminster Resources Ltd.