Whetstone Minerals is Launched
Wednesday 29th October, 2008
Western
Warrior ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION AND
NAME CHANGE TO WHETSTONE MINERALS INC.
Calgary, Alberta (TSX Venture: WWR),
October 27, 2008 - Western Warrior Resources Inc. ("Western Warrior"
or the "Company") announced today that the
consolidation (the "Consolidation") of common shares of
Western Warrior (the "Common Shares") and a name change of
Western Warrior to "Whetstone Minerals Inc." (the "Name
Change") was approved by shareholders of the Company at the Company's
annual and special meeting held on October 24, 2008 (the "Meeting").
On a post-Consolidation basis, the Company will have approximately 14,860,171
Common Shares outstanding.
Effective at the
opening of the market on October 29, 2008 (the "Effective Date"),
the Common Shares currently listed on the TSX Venture Exchange under the symbol
WWR will commence trading under the new name of Whetstone Minerals Inc. and the
new symbol of WMI.
Registered
holders of Common Shares were previously mailed a Letter of Transmittal in
respect of the Consolidation. Registered
holders should submit their Common Share certificates, together with the duly
completed and signed Letter of Transmittal, to the Company's transfer agent in
accordance with the instructions in the Letter of Transmittal.
The Company also
announced that its shareholders approved the amendment of (i) the exercise
price ("Exercise Price") and expiry date of certain
warrants of the Company; and (ii) the conversion price ("Conversion
Price") of certain unsecured convertible promissory notes of the
Company. The Exercise Price and
Conversion Price will be amended to equal the volume weighted average trading
price of the Common Shares on the TSX Venture Exchange for the ten trading days
immediately following the Effective Date, as more particularly described in the
Company's information circular and proxy statement provided to shareholders in
connection with the Meeting. The Company
expects to announce the value of the Exercise Price and Conversion Price on or
about November 12, 2008.
"The company
now provides a more effective platform for Paul
Nagerl, the recently appointed President and Chief Executive
Officer, and his management team to move the company forward and build
shareholder value", commented Allan Dolan, Chairman of the Company.
About Western Warrior Resources Inc.: Western
Warrior is a Calgary-based, multi-commodity, mineral exploration company with
100% ownership of properties in Northwestern Ontario, Northern Manitoba, and Alaska. Western Warrior's
website address is www.westernwarrior.ca
For further
information please contact:
Western Warrior Resources Inc.
Allan Dolan, Chairman
Phone: +44 207 591 4437
To be added to
Western Warrior's private email list, please contact info@westernwarrior.ca
This
news release contains forward-looking statements concerning the Consolidation
and Western Warrior's belief on the results and impact of the
Consolidation which are based on Western
Warrior's current internal expectations.
These statements are not a guarantee that such results and impacts will
take place and undue reliance should not be placed on them. Such
forward-looking statements necessarily involve known and unknown risks and
uncertainties that are common to junior mineral exploration companies. These
risks and uncertainties include, among other things, changes in general
economic, market and business conditions and the receipt of applicable
approvals. The company undertakes no obligation to update or revise any
forward-looking statements except as required by applicable securities laws.
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy
or accuracy of this release.
