Business
WPC Resources Closes Second Tranche Private Placement
(via Thenewswire.ca) Vancouver, British Columbia / TNW-ACCESSWIRE / September 2, 2014 / ...
About this update from Blue Star Gold Corp.
[{"type":"text","content":"WPC Resources Closes Second Tranche Private Placement(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TNW-ACCESSWIRE / September 2, 2014 / WPC Resources Inc. (the \"Company\" or \"WPC\") is pleased to report that it has closed the second tranche of its previously announced non-brokered private placement (news releases, dated May 26, 2014 & August 20, 2014). For this closing, 5,640,000 Units at $0.05/Unit were placed for total gross proceeds of $277,000. Each Unit consists of one common share and one 2 year share purchase warrant. Each warrant will be exercisable for one common share at $0.10 during the full term of the warrant. The shares and any warrant shares are subject to a four month hold period expiring on or about December 29, 2014. Finders' fees for this second closing have been paid consisting of $14,800.00 and 370,000 Finders' Warrants exercisable for common shares for a period of one year at $.10 per share.\n\n\n \nSo far, the Unit offering has placed a total of 13,022,250 Units and raised gross proceeds of $646,112.50. The Company anticipates that the third and final closing will occur on or before September 5, 2013. \n\n\n \nProceeds from this financing are being used to continue the exploration programs currently in progress on the Ulu gold property and Hood River gold project in Nunavut and for general corporate purposes.\n\n\n \nAbout WPC Resources Inc. \n\n\n \nWPC Resources Inc. is Vancouver, British Columbia-based, focused on mineral exploration and development. The Company has recently entered into agreements to acquire a 100% interest in the 8,000 hectare Hood River property in Nunavut and to earn up to an 80% interest in the advanced Ulu gold project from Elgin Mining Inc. These properties contiguously cover more than 9,000 hectares of the High Lake greenstone belt that is well known for hosting high-grade gold occurrences. Both of these Agreements are subject to approval and acceptance from the TSX-Venture Exchange which is currently in process. \n\n\n \nFor additional information, please contact: \n\n\n \nStephen Wilkinson, President \n\n\n \nTelephone: (604) 685-1144\n\n\n \nOn behalf of the Board of Directors ;\n\n\n \nW.K. Crichy Clarke\n\n\n \nChairman and Chief Executive Officer\n\n\n \nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION \n\n\n \nThis news release contain...