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Western Warrior Completes Private PlacementTuesday 26th February, 2008
Western Warrior Completes Private
Placement Of $1.5 Million Equity Offering Calgary, Alberta (TSX Venture: WWR), February
26, 2008 - Western Warrior Resources Inc. ("Western Warrior") today
announced that it has completed the private placement of 6,000,000 units
("Units") of Western Warrior at a price of $0.25 per Unit for total
gross proceeds of $1,500,000, subject to receipt of final approval from the TSX
Venture Exchange. Each Unit of the company consisted of one common share and
one common share purchase warrant of Western Warrior, each whole warrant
entitling the holder thereof to purchase one common share of Western Warrior at
a price of $0.35 per share on or before February 29, 2009 provided that if the
common shares trade on the TSX Venture Exchange at $1.25 or higher on a volume
weighted average basis over any 20 trading day period on or before February 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 intends to use the proceeds from the private placement to fund
the exploration programs on its Ontario
properties, with a principal focus on its Pipestone Project, as well as for
general working capital purposes.All of the securities issued by Western Warrior pursuant to the private
placement are subject to a four-month hold period under Canadian securities
laws and are subject to restrictions on resale prior to June 27, 2008.
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