VANCOUVER, June 30, 2011 /CNW/ - Western Pacific Resources Corp. (TSXV: WRP) is pleased to announce that it has closed its previously announced
non-brokered private placement of $2.5 million by issuing 4,545,000
units at $0.55 per unit. Each unit consists of one common share and
one-half of a warrant, each whole warrant entitling the holder to
purchase one additional common share at $0.75 exercisable for one
year. The Company also issued 11,100 units and 272,700 warrants as
finders' fees in connection with the financing. Each finder's fee
warrant entitles the holder to purchase one common share at $0.75
exercisable for one year. All of the shares and warrants have a resale
restriction until October 30, 2011.
About Western Pacific
Western Pacific is a gold explorer focused on acquiring advanced-stage
projects in the Western United States, and has the right combination of
exploration and financial professionals to succeed in making a world
class gold discovery. For more information, please visit our website at
Curt Everson, M.Sc., P.Geo., is Western Pacific's Qualified Person for
the purposes of National Instrument 43-101 and has prepared or
supervised the preparation of the disclosure of any scientific and
technical information contained in this news release.
ON BEHALF OF THE BOARD
Warwick Smith, Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Western Pacific Resources Corp.
For further information:
Tel: (604) 801-5432
Fax: (604) 662-8829