WPC Resources Inc. - Corporate Update
28 Novembre 2011 - 6:34AM
PR Newswire (Canada)
TSX-V: WPQ VANCOUVER, Nov. 29, 2011 /CNW/ - WPC Resources
Inc. (the "Company") announces that it is continuing with its
previously announced non-brokered private placement (the "Private
Placement") of up to 10,000,000 units (the "Units") of securities
(see News Releases dated May 30, 2011 and August 3, 2011). The
Units are being placed at a price of $0.12 per unit, for gross
proceeds of up to $1,200,000. Each Unit under the Private Placement
consists of one common share and one common share purchase
warrant. Each whole common share purchase warrant entitles the
holder to acquire one additional common share of the Company at an
exercise price of $0.20 within twenty-four months of closing.
The Private Placement is subject to regulatory approval. The
Company may pay finder's fees on a portion of the Private Placement
of 8% of gross proceeds, as well as non-transferable options to
acquire common shares of the Company in an amount equal to 10% of
the total number of Units placed by finders. The options will
be exercisable for a period of 12 months following the closing of
the Private Placement at an exercise price of $0.15 per share. The
proceeds of the Private Placement will be used to fund the work
program on the Company's "Toiyabe Pediment" and "ZPG" properties.
The properties are located in central Nevada within the Battle
Mountain-Eureka Trend near the Cortez District. "Toiyabe Pediment"
and "ZPG" Properties, Nevada The Company has commenced its planned
drilling program in the Battle Mountain-Eureka trend near the
Cortez district, in Nevada. About WPC Resources Inc. WPC Resources
Inc. is a Vancouver, British Columbia based gold exploration and
Development Company. CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS AND INFORMATION This news release contains certain
"forward-looking information" within the meaning of Canadian
securities laws. Actual results may differ materially from those
indicated by such forward-looking information. All information
included herein, other than statements of historical fact,
including, without limitation, information regarding future
production, is considered forward-looking information and involves
various risks and uncertainties. There can be no assurance that the
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release. WPC Resources Inc. CONTACT: W. K. C.
Clarke, Chairman & CEOTelephone: (604) 685 1144
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