Western Warrior Completes Final Closing Of Equity Offering
Tuesday 29th April, 2008
Western Warrior Completes Final
Closing Of Equity Offering Calgary, Alberta (TSX Venture: WWR), April 29,
2008 - Western Warrior Resources Inc. ("Western Warrior") today
announced that it has completed the second and final traunche of the equity
offering announced on April 1, 2008, issuing 185,000 flow-through units
("Flow-Through Units") of Western Warrior at a price of $0.23 per
Flow-Through Unit for total gross proceeds of $42,550. Each Flow-Through Unit
of the company consisted of one flow-through common share and one-half of one
common share purchase warrant of Western Warrior, each whole warrant
("Warrant") entitling the holder thereof to purchase one common share
of Western Warrior at a price of $0.30 per share on or before April 29, 2009
provided that if the common shares trade on the TSX Venture Exchange at $0.45
or higher on a volume weighted average basis over any ten trading day period on
or before April 29, 2009, the company can give written notice to all warrant
holders to accelerate the expiry date of the warrants to 15 calendar days after
the date of such notice.
Western Warrior issued an aggregate of 7,959,306 Flow-Through Units pursuant to
the equity offering to raise gross proceeds of $1,830,640. Western Warrior
intends to use the proceeds from the equity offering to fund the exploration
programs on its Ontario
properties, with a principal focus on its Pipestone Project.
All of the securities issued by Western Warrior pursuant to the second traunche
of the private placement are subject to a four-month hold period under Canadian
securities laws and are subject to restrictions on resale prior to August 30,
2008.
Western Warrior Resources is a Calgary-based multi-commodity mineral
exploration company. In addition to the Pipestone Project, Western Warrior
holds 100% ownership in the highly prospective gold prospects at Eagle Lake,
Redvers, and Warclub in Ontario as well as a
large property position in Manitoba and is
owner of the Cliff Gold Mine in Alaska.
For further information on Western Warrior, please contact Grant Hall, Vice
President, Corporate Development at (520) 668-4101 or visit the Western Warrior
web site at http://www.westernwarrior.ca. To be added to Western Warrior's
private email list, please contact info@westernwarrior.ca.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
You can view the Next News Releases item: Wed
Jun 18, 2008, Western Warrior Intersects Additional Gold from Drilling at the
Wampum Prospect and Updates Ontario
Exploration Programs
You can view the Previous News Releases item:
Wed Apr 9, 2008, Western Warrior Completes Private Placement Of $1.79
Million Equity Offering With Mineralfields
