SASKATOON, SASKATCHEWAN--(Marketwired - April 13, 2017) - Westcore Energy Ltd. ("Westcore" or the "Company") (TSX VENTURE:WTR) announces that it is expanding its previously announced non-brokered private placement (the "Placement") from the previously announced maximum of 3,333,333 units at a subscription price of $0.15 for gross proceeds of $500,000, to a maximum of 4,000,000 units for maximum gross proceeds of $600,000. Each unit shall consist of one common share of the Company and one common share purchase warrant, with each warrant entitling the holder thereof to acquire one common share at a price of $0.25 per common share for a period of 24 months from the date of issuance.
Certain directors, officers or other insiders of the Company may participate in the Private Placement and, collectively, their participation may exceed 25% of the total amount of the financing.
Additionally, the Company announces that it intends to extend the closing of the Placement.
The proceeds from the Private Placement will be used to continue advancing the Company's oil and gas assets. All securities issued will be subject to a standard four month hold period.
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Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, completion of the aforementioned equity financing and the use of proceeds thereof. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
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