Weststar Resources Corp.
tsx : WER

May 03, 2011 13:21 ET

WESTSTAR $9.0 MILLION FINANCING

VANCOUVER, BC--(Marketwire - May 3, 2011) - Weststar Resources Corp. (TSX-V: WER FSE: HN3) (the "Company") has arranged, subject to TSX Venture Exchange approval, a non- brokered private placement of 10,000,000 units at $0.90 per unit for total gross proceeds of $9,000,000. Each unit will consist of one common share and one half of a transferable share purchase warrant, each whole warrant is exercisable into one additional common share at a price of $1.50 per share for a period of one year from the date of closing.

Proceeds of the financing will be utilized for the Company's recently announced La Paloma acquisition in Mexico and for general working capital.

Finders' fees may be payable in whole or in part on the units issued under the financing, in accordance with TSX Venture Exchange policy.

For further info on the Company please visit www.weststarresources.com or email info@weststarresources.com .


On Behalf of the Board

Mitchell Adam, President
Weststar Resources Corp.

"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 this release."




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(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Weststar Resources Corp. via Thomson Reuters ONE

[HUG#1511668]

Contact Information

  • Weststar Resources Corp.
    Suite 4006 - 1011 West Cordova Street
    Vancouver, B.C. V6C 0B2
    Telephone: (604) 678-5308
    Fax: (604) 678-5309