WCB Resources Closes $6.0 Million Non-Brokered Private Placement
April 07 2014 - 12:12PM
Marketwired
WCB Resources Closes $6.0 Million Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 7, 2014) - WCB
Resources Ltd ("WCB" or the "Company") (TSX-VENTURE:WCB) is pleased
to announce that it has completed the non-brokered private
placement announced on April 4, 2014. The private placement
consisted of 22,222,222 units at a price of $0.27 per unit (the
"Units") for gross proceeds of $6,000,000. Each Unit is comprised
of one common share and two separate 1/2 warrants (a 1/2 Warrant A
and a 1/2 Warrant B). Each whole Warrant A will entitle the holder
to acquire one additional common share of the Company at a price of
$0.40 per share for a period of 18 months following closing. Each
whole Warrant B will entitle the holder to acquire one additional
common share of the Company at a price of $0.60 per share for a
period of 36 months following closing. All Units were purchased by
Sandfire Resources N/L ("Sandfire").
Sandfire is a public mining company listed on the Australia
Stock Exchange (SFR.AU) with a market capitalization of
approximately AUD875 million. Sandfire is currently in production
at its DeGrussa copper gold project located in Western Australia
and is exploring several copper-gold properties in Australia.
No finder's fees were paid in connection with the private
placement. All of the securities issued pursuant to this offering
will have a hold period expiring on August 8, 2014.
About WCB
Resources
WCB is an aggressive minerals exploration and development
company that brings together a strong, interdisciplinary, and
proven management team with the ability to take a project from
discovery right through to operation.
WCB's strategy is to build shareholder value through
acquisition, exploration and development of copper gold projects.
This strategy is being developed by a synthesis of WCB's core
skills in project evaluation, structured acquisition, exploration
and project development and operations, areas where WCB directors
and executives have significant experience.
We believe that our capabilities and experience, combined with
an efficient corporate structure, provide tremendous potential
upside for investors. WCB is focussed on the exploration and
development of the Tier 1 Misima Island Project in Papua New
Guinea.
On behalf of the Board of Directors
Cameron Switzer, President and Chief Executive Officer
Neither TSX
Venture Exchange nor its Regulation 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.
WARNING: The
Company relies on litigation protection for "forward looking"
statements. Actual results could differ materially from those
described in the news release as a result of numerous factors, some
of which are outside the control of the Company.
WCB Resources Ltd.Cameron Switzercswitzer@wcbresources.comWCB
Resources Ltd.Shaun Maskerinesmaskerine@wcbresources.comIronstone
Capital Corp.Lee BowlesInvestor Relations416 941
1253lbowles@ironstonecapital.ca