VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2013) -
NOT FOR DISSEMINATION IN THE US OR TO US WIRE SERVICES.
WellStar Energy Corp. (TSX VENTURE:WSE)(FRANKFURT:W6V1) (the "Company" or "WellStar"), announces that, further to our news release of December 18, 2012 (the "News Release"), it has completed a private placement of 3,551,166, common shares at a price of $0.15 per common share for total proceeds of $532,674.90 (the "Offering"). The net proceeds of the Offering will be used for general working capital purposes. Cash finder's fees of $28,629.99 were paid in connection with the Offering. There were no finder's fees paid in the form of securities.
All securities issued in connection with the Offering will be subject to a four month statutory hold period, expiring on June 22, 2013, in accordance with applicable securities legislation.
ON BEHALF OF THE BOARD
Andrew H. Rees, President and Chief Executive Officer
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
These securities have not and will not be registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is available to be relied upon. This news release does not constitute an offer of securities for sale in the United States.
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.