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 March 03, 2017
WellStar Announces a Non-Brokered Private Placement

 Calgary, Alberta, March 3, 2017 - WELLSTAR ENERGY CORP. (TSX-V: WSE) (the "Company") announces that it intends to complete a non-brokered private placement in the aggregate amount up to $1,500,000 consisting of 10% convertible debenture units of the Company (the "CD Units") in the aggregate principal amount of up to $500,000 (the "CD Unit Offering") and a concurrent placement of up to 12,500,000 equity units (the "Units") at a price of $0.08 per Unit, for gross proceeds of up to $1,000,000 (the "Unit Offering", and together with the CD Offering, the "Offering").

The Company announced that is has completed the first tranche of the Unit offering in the amount of $100,000 through the sale of 1,250,000 Units. Each Unit consists of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.08 for a period of three years following the closing of the Offering.

The Company concurrently completed the first tranche of a CD Unit Offering in the aggregate amount of $200,000 consisting of 10% convertible debenture units of the Company. Each CD Unit will consist of $1,000 in principal amount of 10% convertible debentures (the "Debentures") maturing in three years, and that number of common share purchase warrants (the "CD Unit Warrants") equal to one quarter of the shares issuable upon conversion of $1,000 in principal amount of Debentures. The principal and any accrued and unpaid interest under the Debentures will be secured and will be convertible at the holder's option into fully-paid non-assessable common shares of the Company at a conversion price, with respect to principal, equal to $0.11 per Share, and with respect to accrued and unpaid interest, the "Market Price" of the Shares on the TSXV, as defined in the policies of the TSX Venture Exchange (the "TSXV"), at the time of settlement. Each CD Unit Warrant will be exercisable for a period of 3 years following the closing at an exercise price of $0.11 per common share.

The Company will pay eligible arm's-length finder fees in accordance with TSXV policy. All securities issued in connection with the first tranche of the Offering will be subject to a hold period in accordance with applicable securities legislation that expires on June 28, 2016. Completion of the Offering is subject to the final approval of the TSXV.

Net proceeds from the Offering will be applied towards payment of current liabilities, exploration and development of the Company's oil and gas properties and for general working capital purposes.

Further to the Company's January 31, 2017 news release, the Company announces it has closed its Flow Through Unit offering.

For further information please contact Andrew H. Rees at (403) 919-7900.


(signed) "Andrew H. Rees"

Andrew H. Rees
President and Chief Executive Officer

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 this release.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.

You can view the Previous News Releases item: Thu Dec 1, 2016, WellStar Energy Corp. Signs LOI to Acquire Sundial Energy Ltd. Plans to Harness Geothermal Energy From Producing Oil Wells -- A First in Canada.

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