Tickers: XTSX:WST.H, XTSX:WST.P, PINX:WSRRF
Tags: Mining
Vancouver, B.C. / TheNewswire / January 20, 2017 - WESTRIDGE RESOURCES INC. (NEX: WST.H) ("Westridge" or the "Company") announces the terms of a non-brokered private placement. The Company will offer by private placement up to 1,000,000 units at a price of $0.25 per unit for gross proceeds of $250,000. Each Unit will consist of one common share of the Company and one full share purchase warrant, each full warrant entitling the holder thereof to purchase, for a period of 12 months from the date of issuance, one additional common share of the Company at a price of $0.35 per share. Proceeds of the offering will be used for general working capital.
The private placement is subject to the approval of the TSX Venture Exchange. All the securities issued under the Transaction and the Private Placement are subject to resale restrictions under applicable securities legislation. Westridge may pay a finder's fee to certain persons equal to 10% of the gross proceeds raised in the Private Placement from subscribers introduced to the Company by such persons, which fees shall be paid in cash or units, at the discretion of Westridge.
The Company is also pleased to announce the appointment of the Company's President & CEO, Mr. Michael Young's to the Company's board of directors.
Brad Nichol has resigned as a director of Westridge Resources Inc. to pursue other opportunities. The company would like to thank Mr. Nichol for his contributions.
For further information on Westridge Resources Inc. at (604) 565-5100.
ON BEHALF OF THE BOARD
"Chris Cooper"
Chris Cooper
Director
Neither TSX Venture Exchange nor its Regulations 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.
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