VANCOUVER, BRITISH COLUMBIA — (January 3, 2013) — Weststar Resources Corp. (the “Company”) (TSX VENTURE: WER) announces that the Company is seeking to raise up to $350,000 through the issue of a non-brokered private placement of units (the “Units”) at a price of $0.035 per Unit.
Each Unit will consist of one common share and one-half of one share purchase warrant (“Warrant”). Each whole Warrant is exercisable by the holder to acquire one additional common share of the Company for a period of two years from issuance at an exercise price of $0.07 per share in the first year and $0.10 per share in the second year.
The proceeds of the financing will be used towards general working capital purposes and potential property ventures that meet the criteria established by the TSX Venture Exchange (the “Exchange”). Finders’ fees may be payable subject to Exchange guidelines.
Completion of the offering is subject to Exchange approval. Approval of the private placement is being sought pursuant to the Exchange’s Notice to Issuers dated August 17, 2012 and December 12, 2012 regarding Temporary Relief from Certain Pricing Requirements.
All securities issued under the offering will be subject to a four-month statutory hold period.
For further info on the Company, please visit www.weststarresources.com or email [email protected].
On Behalf of the Board
Will Rascan, President
Weststar Resources Corp.
(604) 469-6855
Neither 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.