Toronto, Ontario--(Newsfile Corp. - September 13, 2021) - Western Troy Capital Resources Inc. (TSXV: WRY.H) ("Western Troy" or the "Company") announces a proposed non-brokered private placement for aggregate gross proceeds of up to $135,875 comprised of up to 905,833 units at a price of $0.15 per unit (each such unit being comprised of one common share and one warrant) (the "Offering"). Each warrant will entitle the holder to purchase one common share for $0.20 at any time within 12 months after closing. All securities issued pursuant to this private placement will be subject to a four (4) month hold period. Completion of the Offering is subject to receipt of all required regulatory and NEX approvals.
Closing is expected to occur in September 2021. The proceeds of the private placement will be used for exploration on the Warrens property and for general working capital purposes. A small drill program has been started at Warrens and results should be received by year end.
In addition, the Company announces that incentive stock options to purchase up to 150,000 common shares of the Company have been granted to a consultant of the Company pursuant to the Company's stock option plan and subject to any regulatory approval. Each stock option is exercisable at $0.16 for a period of three years from the grant date.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contact Information:
Western Troy Capital Resources
Stephen Dunn, CEO
Tel: 416-361-2827
Email: dunnsteve@protonmail.com
CAUTIONARY STATEMENT:
Neither the TSX Venture Exchange (including the NEX Board) 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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96401
