Wpc Resources Closes First Tranche of Private Placement
NR 2018-3
WPC RESOURCES CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.
Vancouver, British Columbia, February 14, 2018 – WPC Resources Inc. (the “Company” or
“WPC”) (TSX.V: WPQ) pleased to announce it has closed the first tranche of its non-brokered
private placement (the “Offering”) (please see news release dated February 7, 2018) by issuing
13.6 million units at a price of $0.05 per unit for gross proceeds of $680,000. 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.
Proceeds from the Offering shall be used to make two 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. All securities issued will be subject to a hold period
of four months and a day pursuant to applicable securities laws. Finder’s Fees, in accordance
with TSX Venture policies, may be paid on a portion of the Offering. The Company anticipates
the private placement will close prior to March 1, 2018.
This news release is not an offer or a solicitation of an offer of securiti es 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 propert y located
contiguous to the Ulu Gold Property. WPC has entered into an option agreement to acquire the
Ulu Gold Property and a letter agreement to enter into an option to acquire Lupin Mines Inc., the
owner of the past producing Lupin Gold Mine. The Company currently has 112,500,304 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]
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 completion 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 actual results and future ev ents could differ materially from those anticipated
in such information.
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.