Wilton Resources Inc.
TSX VENTURE : WIL

March 31, 2016 18:48 ET

Wilton Resources Inc. Announces Increase to Private Placement Financing

CALGARY, ALBERTA--(Marketwired - March 31, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Wilton Resources Inc. (the "Corporation") (TSX VENTURE:WIL) is pleased to announce that, further to its press releases of March 17, 2016, March 23, 2016 and March 24, 2016 (the "prior press releases"), the Corporation intends to increase the Offering (as defined in the prior press releases) from up to 2,500,000 units ("Units") of the Corporation to up to 5,000,000 Units for gross proceeds of $2,000,000.

The principal use of the proceeds of the Offering will be for general corporate purposes and future working capital. The Corporation expects to accept subscriptions for Units where prospectus exemptions are available, including the Existing Security Holder Exemption and Investment Dealer Exemption (as defined in the prior press releases). Subscribers from Saskatchewan will also be permitted to participate in the Offering, relying on the Investment Dealer Exemption.

Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

The securities issued pursuant to the Offering will be subject to statutory hold periods expiring four months and one day from the date of issuance of such securities, and such other restrictions as are required by applicable securities laws.

The Corporation does not expect to provide any offering materials to subscribers in connection with the Offering. For more information concerning the Corporation, please refer to the Corporation's profile on the SEDAR website at www.sedar.com. As at the date hereof, there is no material fact or material change in respect of the issuer that has not been generally disclosed.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the Offering the principal uses of the proceeds of the Offering; and offering materials. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material facts and assumptions include obtaining approval of the TSX Venture Exchange of the proposed Offering; the availability of certain prospectus exemptions in respect of the Offering; and the intended use of proceeds remaining in the best interests of the Corporation. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither the 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 content of this release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

Contact Information

  • Wilton Resources Inc.
    Richard Anderson
    Chief Executive Officer
    (403) 619-6609