Westminster Announces Closing of First Tranche of Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 3, 2017) - Westminster Resources Ltd. (TSXV: WMR) (FSE: TQ08W1) is pleased to announce that it has received Conditional Approval from the TSX Venture Exchange for its non-brokered private placement previously announced on July 19, 2017 (the "Private Placement) and is pleased to announce a first tranche (the "First Tranche") closing of its non-brokered private placement. The First Tranche closing consisted of the issuance of a total of 3,820,000 Units at a price of $0.20 per unit for gross proceeds of $764,000.
The Conditional Approval is for the issuance of up to 7.5 million units at a price of $0.20 per unit for gross proceeds of up to $1,500,000. Each unit will comprise one common share and one-half common share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one common share at $0.35 per share with an expiry date of one year from the closing of the private placement. A finder's fee commensurate with TSX Venture Exchange policies will be paid where applicable.
The private placement remains subject to final TSX Venture Exchange approval.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
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 copper-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 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.