Wpc Resources Closes Final Tranche of Private Placement
NR 2018-4
WPC RESOURCES CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.
Vancouver, British Columbia, April 16, 2018 – WPC Resources Inc. (the “Company” or “WPC”)
(TSX.V: WPQ) is pleased to announce it has closed the second and final tranche of its non-
brokered private placement (the “Offering”) (please see news releases dated February 7 and
February 14, 2018) by issuing 18.4 million units at a price of $0.05 per unit for gross proceeds of
$920,000. Each Unit consists of one (1) common share (“Common Share”) and one-half (1/2) of
a common share purchase warrant (a “Warrant”). Each full Warrant will be exercisable to
purchase one Common Share at a price of $0.10 for twelve (12) months following the close of the
private placement.
Finder’s fees of $10,000 were paid in connection with the private placement.
All securities issued pursuant to the second tranche, including the Common Shares and any
Common Shares issued upon the exercise of the Warrants, are subject to a statutory hold period
which expires on August 16, 2018.
In total, the Company issued 32,000,000 U nits for gross proceeds of $1,600,000. Finder’s fees
of $35,000 were paid in cash in connection with the Private Placement.
Existing Insiders of the Company purchased 2,000,000 Units for gross proceeds of $100,000 and
one new insider of the Company purchased 13,000,000 Units for gross proceeds of $650,000.
Proceeds from the Offering shall be used to make cash payments totalling $400,000 to Mandalay
Resources Corporation as required under the New Ulu Property Option Agreement, advance the
Ulu Gold Property and for general corporate and working capital purposes. For further information
on the terms of the New Ulu Property Option Agreement and the Ulu Gold Property please see
the Company news release dated January 11, 2018.
All securities issued pursuant to the First Tranche, including the Common Shares underlying the
Warrants, are subject to a statutory hold period which will expire on June 14, 2018.
The Offering, including the future issuance of Common Shares and Warrants, is subject to the
final approval of the TSX Venture Exchange.
This news release is not an offer or a solicitation of an offer of securities for sale in the United
States. The securities have not been and will not be registered under the U.S. 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.
About WPC Resources Inc.
WPC is a Vancouver, Canada, based gold exploration company focused on mineral exploration
and development. In 2014, the Company entered into an agreement to acquire Inukshuk
Exploration Inc., the owner of a 100% interest in the 8,015 ha Hood River property located
contiguous to the Ulu Gold Property. WPC has entered into an option agreement to acquire the
Ulu Gold Property. At the completion of the Offering, the Company will have 130,900,304 shares
issued and is listed on the TSX -V with the trading symbol: WPQ. The Company website is:
www.wpcresources.ca.
For additional information, please contact:
Stephen Wilkinson, President ; OR
Wayne Moorhouse, CFO & Secretary
Telephone: (778) 379-1433
E-mail: [email protected]
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain “forward-looking information” within the meaning of Canadian securities
laws. Actual results may differ materially from those indicated by such forward- looking information. All
information included herein, other than statements of historical fact, including the expected c ompletion of
the Offering and the timing thereof, and the expected use of proceeds are forward- looking statements and
involves various risks and uncertainties. There can be no assurance that the forward- looking information
will prove to be accurate, as act ual results and future events could differ materially from those anticipated
in such information.