Westcore Energy Ltd.

December 23, 2008 12:20 ET

Westcore Announces Closing of $600,000 Flow-Through Share Offering

CALGARY, ALBERTA--(Marketwire - Dec. 23, 2008) - WESTCORE ENERGY LTD. (the "Corporation" or "Westcore") (TSX VENTURE:WTR.P), a capital pool company, is pleased to announce that it has completed its recently announced offering with the issuance of 1.5 million flow-through shares at price of $0.40 per share, for gross proceeds of $600,000. The sole subscriber under the offering was 49 North 2008-II Resource FT LP. An individual that is an Insider of the Corporation is also the President and a director of the general partner of the foregoing limited partnership. The common shares issued under this offering have been deposited into escrow and will be releasable on identical terms as will apply to the seed shareholders following closing of the Corporation's Qualifying Transaction. In accordance with applicable securities laws, the foregoing common shares are subject to a four-month hold period that will expire on April 23, 2008.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein may constitute forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Westcore Energy Ltd.
    Paul Conroy, President, Chief Executive Officer,
    Chief Financial Officer and Corporate Secretary
    (403) 697-4005
    (403) 263-0271 (FAX)