Westcore Energy Ltd.

December 16, 2010 16:13 ET

Westcore Announces Flow-Through Financing

CALGARY, ALBERTA--(Marketwire - Dec. 16, 2010) - Westcore Energy Ltd. ("Westcore") (TSX VENTURE:WTR) is pleased to announce the offering of 2,675,000 flow-through shares at a price of $0.40 for aggregate gross proceeds of $1,070,000. The principal subscriber under this offering will be 49 North 2010 Resource Flow-Through Limited Partnership, an affiliate of 49 North Resources Inc., which will be subscribing for $1,000,000 of the flow-through shares. 49 North Resources Inc. is considered an Insider of Westcore. Proceeds from this offering will be used in connection with Westcore's recently announced winter drilling program and Coal to Liquids sampling process. Hold periods will apply in accordance with applicable securities laws. Closing is expected to occur prior to December 31, 2010. This offering is subject to the approval of the TSX Venture Exchange.

Forward Looking Statements

Except for statements of historical fact relating to Westcore and 49 North, certain information contained herein constitutes 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, Westcore and 49 North undertake 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.

Neither 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 the release.

Contact Information

  • Westcore Energy Ltd.
    Paul Conroy
    President and Chief Executive Officer
    (403) 237-6122
    (403) 237-6144 (FAX)