Waseco Resources Inc.
TSX VENTURE : WRI
FRANKFURT : WSE

Waseco Resources Inc.

March 30, 2015 09:28 ET

Waseco Resources Inc. Announces Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwired - March 30, 2015) - WASECO RESOURCES INC. (TSX VENTURE:WRI)(FRANKFURT:WSE) ("Waseco" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement offering (the "Offering") of units at a price of $0.05 per unit consisting of an aggregate of up to 5,000,000 common shares (the "Common Shares"), and 2,500,000 shares purchase warrants (the "Warrants"). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.075 per share at any time prior to 12 months from the date of closing of the Offering.

The Offering will be conducted by the Company utilizing the "existing shareholder exemption" as described in Multilateral CSA Notice 45-313 - Prospectus Exemption for Distributions to Existing Security Holders (the "Existing Shareholder Exemption"), as well as exemptions under the "accredited investor" exemption of National Instrument 45-106 - Prospectus and Registration Exemptions ("NI 45-106"), and also other applicable exemptions available to the Company.

Waseco will make the offering available to all shareholders of the Company as at March 26, 2015 (the "Record Date") who are eligible to participate under the Existing Shareholder Exemption and who will have notified the Company by no later than 4:30 p.m. (Eastern time) on April 30, 2015 of their intention to participate in the Offering. Orders will be processed by the Company on a first come, first served basis such that it is possible that a subscription received from a shareholder may not be accepted by the Company if the Offering is over-subscribed. Any person who becomes a shareholder of the Company after the Record Date shall not be entitled to participate in the Offering under the Existing Shareholder Exemption.

The proceeds received from the Offering will be used to carry out a follow-up drilling program in proximity to the high grade gold discovery on its Battle Mountain Ridge Project, in Nevada and for general working capital purposes.

All securities issued will be subject to a four (4) month hold period from the date of closing. The Offering is subject to the approval of the TSX Venture Exchange.

At closing of the Offering finder's fees of 7% of the proceeds may be payable in cash, and 7% finder warrants which are exercisable at the price of $0.05 per share and expire 12 months from the date of closing of the Offering.

Richard Williams, President of Waseco, stated: "We value current shareholders and encourage them to participate in this placement. Having intercepted high grade gold in Hole 12-5 during our last drilling campaign, we are very excited to test our models and confirm the continuity of the zone."

The Board of Directors also approved the granting of 200,000 options to each of 4 directors. The options are exercisable at $0.10 per share and are valid for a period of 3 years, ending March 26, 2018.

Waseco is an exploration company focused on exploring for gold in Nevada and Kalimantan and for uranium and other minerals in the Quebec Labrador Trough through a joint venture with AREVA Canada Inc. The Company is listed on the TSX Venture Exchange and the Frankfurt Stock Exchange. There are currently approximately 30.6 million shares issued and outstanding.

For further information on the Company, please visit the Company's web site at www.wasecoresources.com.

On Behalf of the Board of Directors

Richard Williams, President & CEO

Neither the TSX Venture Exchange nor its regulatory service providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.

We seek safe harbour

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