Wild Stream Exploration Inc.
TSX VENTURE : WSX

December 03, 2009 11:04 ET

Wild Stream Exploration Announces Closing of Rights Offering and Flow-Through Private Placement

CALGARY, ALBERTA--(Marketwire - Dec. 3, 2009) -

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR TO UNITED STATES NEWS WIRE SERVICES.

Wild Stream Exploration Inc. ("Wild Stream" or the "Corporation") (TSX VENTURE:WSX) announced today that it has completed its previously announced rights offering (the "Rights Offering"). At closing, Wild Stream issued 407,105 common shares of Wild Stream at a price of $1.35 per share for gross proceeds of $549,591.75. The common shares were issued to persons who exercised rights issued under the Rights Offering as described in the rights offering circular of the Corporation dated October 20, 2009. The Corporation intends to use the proceeds of the Rights Offering to fund general working capital and capital expenditures of the Corporation as well as to fund the expenses incurred by the Corporation in connection with its recent reorganization.

The Corporation also announced today that it has completed a private placement of 200,000 common shares issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Shares") for gross proceeds of $1,000,000, which will be eligible for renunciation as Canadian Development Expenses. The Flow-Through Shares are subject to a four-month hold.

Note Regarding Forward Looking Statements

This document contains forward-looking statements. More particularly, this document contains statements concerning the proceeds to be realized from the Rights Offering and the use of proceeds therefrom.

Although Wild Stream believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Wild Stream can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks that required regulatory and third party approvals and consents are not obtained on terms satisfactory to the parties or the board of directors of Wild Stream determines that it would be in the best interests of Wild Stream to deploy the proceeds for some other purpose.

The forward-looking statements contained in this press release are made as of the date hereof and Wild Stream undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the 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.

Contact Information

  • Wild Stream Exploration Inc.
    Neil Roszell
    President & CEO
    (403) 232-8083 (FAX)
    or
    Wild Stream Exploration Inc.
    Jerry Sapieha
    Vice President, Finance & CFO
    (403) 232-8083 (FAX)
    or
    Wild Stream Exploration Inc.
    Suite 710, 400 - 5th Avenue S.W.
    Calgary, AB T2P 0L6