Western Announces Closing of Non-brokered Private Placement
Western Exploration Inc. (the "Corporation" or "Western Exploration") (TSXV: WEX) (OTCQX: WEXPF) announces that it has closed a non-brokered private placement (the "Offering") of an aggregate 814,286 units of the Corporation (the "Units") at a price of C$1.40 per Unit for aggregate gross proceeds of approximately C$1,140,000.
- Western Exploration Inc. (the "Corporation" or "Western Exploration") (TSXV: WEX) (OTCQX: WEXPF) announces that it has closed a non-brokered private placement (the "Offering") of an aggregate 814,286 units of the Corporation (the "Units") at a price of C$1.40 per Unit for aggregate gross proceeds of approximately C$1,140,000.
- The Corporation intends to use the proceeds of the Offering to continue to advance the exploration and development of the Aura Project and for general corporate purposes.
- Each Unit is comprised of one variable voting share of the Corporation (each, a "Variable Voting Share") and one-half of one Variable Voting Share purchase warrant of the Corporation (each whole Variable Voting Share purchase warrant, a "Warrant").
- Each Warrant entitles the holder thereof to purchase one Variable Voting Share at an exercise price of C$1.96 per Variable Voting Share for a period of two years following the closing date of the Offering.