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| | June 29, 2009
News Release
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| | News Release 09-02
Vancouver, BC June 29, 2009: WellStar Energy Corp. (TSX.V: WSE) (Frankfurt: W6V1) announces a private placement consisting of up to one million eight hundred thousand (1,800,000) units at a price of eight and one half cents per unit ($0.085) for gross proceeds of $153,000.
Each Unit consists of one common share in WellStar and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share (a "Warrant Share") at an exercise price of $0.15 per Warrant Share at any time prior to the day that is one (1) year from the closing date, with a forced exercise provision, stating that if, for ten consecutive trading days, the closing price of the listed shares of the Company on the TSX Venture Exchange exceeds $0.30 then the exercise period of the warrants will be shortened to a period of 30 days. Proceeds of this private placement are for general working capital. The company will pay a finder's fee of seven (7) percent of the subscription proceeds received from subscribers introduced to the company.
FOR FURTHER INFORMATION PLEASE CONTACT:
WellStar Energy Corp.
Andrew H. Rees President and CEO
Tel: 604-669-6463
Fax: 604-669-3041
Website: www.wellstarenergy.com
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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