CALGARY, Oct. 27 /CNW/ - (TSX Venture: WWR) - Western Warrior Resources
Inc. ("Western Warrior" or the "Company") announced today that the
consolidation (the "Consolidation") of common shares of Western Warrior (the
"Common Shares") and a name change of Western Warrior to "Whetstone Minerals
Inc." (the "Name Change") was approved by shareholders of the Company at the
Company's annual and special meeting held on October 24, 2008 (the "Meeting").
On a post-Consolidation basis, the Company will have approximately 14,860,171
Common Shares outstanding.
Effective at the opening of the market on October 29, 2008 (the
"Effective Date"), the Common Shares currently listed on the TSX Venture
Exchange under the symbol WWR will commence trading under the new name of
Whetstone Minerals Inc. and the new symbol of WMI.
Registered holders of Common Shares were previously mailed a Letter of
Transmittal in respect of the Consolidation. Registered holders should submit
their Common Share certificates, together with the duly completed and signed
Letter of Transmittal, to the Company's transfer agent in accordance with the
instructions in the Letter of Transmittal.
The Company also announced that its shareholders approved the amendment
of (i) the exercise price ("Exercise Price") and expiry date of certain
warrants of the Company; and (ii) the conversion price ("Conversion Price") of
certain unsecured convertible promissory notes of the Company. The Exercise
Price and Conversion Price will be amended to equal the volume weighted
average trading price of the Common Shares on the TSX Venture Exchange for the
ten trading days immediately following the Effective Date, as more
particularly described in the Company's information circular and proxy
statement provided to shareholders in connection with the Meeting. The Company
expects to announce the value of the Exercise Price and Conversion Price on or
about November 12, 2008.
"The company now provides a more effective platform for Paul Nagerl, the
recently appointed President and Chief Executive Officer, and his management
team to move the company forward and build shareholder value", commented Allan
Dolan, Chairman of the Company.
About Western Warrior Resources Inc.: Western Warrior is a Calgary-based,
multi-commodity, mineral exploration company with 100% ownership of properties
in Northwestern Ontario, Northern Manitoba, and Alaska. Western Warrior's
website address is www.westernwarrior.ca
This news release contains forward-looking statements concerning the
Consolidation and Western Warrior's belief on the results and impact of the
Consolidation which are based on Western Warrior's current internal
expectations. These statements are not a guarantee that such results and
impacts will take place and undue reliance should not be placed on them. Such
forward-looking statements necessarily involve known and unknown risks and
uncertainties that are common to junior mineral exploration companies. These
risks and uncertainties include, among other things, changes in general
economic, market and business conditions and the receipt of applicable
approvals. The company undertakes no obligation to update or revise any
forward-looking statements except as required by applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Western Warrior Resources Inc., Allan Dolan,
Chairman, Phone: +44 207 591 4437; To be added to Western Warrior's private
email list, please contact email@example.com