Western Star Resources Inc. Closes Final Tranche of Private Placement

VANCOUVER, British Columbia, June 24, 2025 (GLOBE NEWSWIRE) -- Western Star Resources Inc. (CSE: WSR) (“Western Star” or the “Company”) is pleased to announce the closing of the final tranche of its previously announced non-brokered private placement. In the final tranche 1,070,667 units of the Company were issued at a purchase price of $0.15 per unit. Together with the first tranche the company raised a total of $555,000 and issued 3,700,000 units.

Each unit is comprised of one common share in the capital of Western Star and one share purchase warrant, which is exercisable into one common share at an exercise price of $0.30 per share expiring June 24, 2027. The warrants will be subject to an acceleration clause which states: Pursuant to the financing, in the event the Company's share price closed at a price of CAD$0.40 per share for a period of 10 consecutive trading days on the CSE Canadian Securities Exchange, the Company may accelerate the term of the Eligible Warrants to a period of 30 days commencing 7 days after the last premium trading day with notice given to the warrant holders in writing or by news release. All securities issued under the Offering and including Warrants will be subject to a four (4) month holding period. The Company paid a finder’s fee to Ventum Financial Corp for the total of $1,200 in cash and 8,000 broker warrants.

The Company intends to use the net proceeds to define high priority drill targets at its flagship Western Star Project, general working capital and market awareness.

All securities issued to U.S. purchasers are restricted securities pursuant to Rule 144 under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

The Company also announces that it has granted a total of 1,000,000 incentive stock options to officers, directors and contractors of the Company. Each option is exercisable into one common share of the Company at a price of $0.18 per share for a period of three years. The options are subject to the terms of the Company’s stock option plan and the policies of the Canadian Securities Exchange.

Additional Information

Additional information about the Company and the transaction is available on SEDAR+ at www.sedarplus.ca under the Company’s profile. The summary of the transaction set out above is qualified in its entirety by reference to the description of the transaction in the Company’s filing statement posted on SEDAR+.

About Western Star Resources Inc.

Western Star is a mineral exploration and development company. The company’s objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders. The company currently owns nine non-surveyed contiguous mineral claims totaling 2,797 hectares, which are located within the Revelstoke mining division of British Columbia. The Western Star property group is located approximately 50 km southeast of Revelstoke, BC, and roughly 10 km north of the abandoned community of Camborne.

Contact Information:
Blake Morgan,
CEO and Director
blake@acvc.vc

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Certain of the statements made and information contained herein may constitute “forward-looking information”. In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.