Westward Explorations Ltd.
TSX VENTURE : WWE

Westward Explorations Ltd.

March 26, 2008 13:23 ET

Westward Explorations Ltd. Announces $2 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2008) -

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Westward Explorations Ltd. (the "Company") (TSX VENTURE:WWE) has reached agreement for the private placement of 40 million units of the Company at $0.05 per unit for proceeds of $2 million, subject to regulatory approval. Each unit consists of one common share of the Company and one common share purchase warrant. Each warrant, expiring 24 months from closing, will entitle the holder to subscribe for one additional common share of the Company at a price of $0.10 per share. A finders fee of 2 million units will be paid to Endeavour Financial in respect of the placement.

Proceeds of the private placement will used for the possible acquisition of a natural resource property as well as for general working capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On behalf of the Board of Westward Explorations Ltd.

John Pallot, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Westward Explorations Ltd.
    John Pallot
    President
    (604) 688-1508
    (604) 601-8253 (FAX)