Wilton Resources Inc.

July 24, 2009 14:00 ET

Wilton Resources Inc. Completes Initial Public Offering

CALGARY, ALBERTA--(Marketwire - July 24, 2009) - Wilton Resources Inc. (the "Corporation") is pleased to announce that it has successfully completed its initial public offering of 4,000,000 common shares (the "Common Shares") at $0.10 per share for gross proceeds of $400,000 (the "Offering") with Blackmont Capital Inc. ("Blackmont"), as agent. As a result of this issuance, the Corporation has 25,000,000 Common Shares issued and outstanding. In connection with the Offering, the Corporation granted options to acquire an aggregate of 400,000 Common Shares (the "Agent's Options") at an exercise price of $0.10 per share. The Agent's Options will expire 24 months from the date the Corporation's Common Shares are listed on the TSX Venture Exchange (the "Exchange"). Blackmont also received a cash commission equal to 10% of the gross proceeds of the offering and an administration fee.

The Corporation has also granted options to acquire an aggregate of 500,000 Common Shares at an exercise price of $0.10 per share to the directors and officers of the Corporation, which expire 5 years from the date of grant.

The Corporation is a capital pool company under the policies of the Exchange. The Exchange has conditionally approved the listing of the Corporation's Common Shares and the Corporation now intends to make application for final approval. It is expected that the Corporation's Common Shares will commence trading on the Exchange under the trading symbol "WIL.P".

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of this Release.

Contact Information

  • Wilton Resources Inc.
    Richard G. Anderson, President, Chief Executive Officer
    Chief Financial Officer and Director
    (403) 244-0669