/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, AB, Dec. 14, 2012 /CNW/ - WesCan Energy Corp. (TSX Venture
Exchange: WCE) (the "Corporation" or "WesCan") announces that, subject to regulatory approval, it has completed its
previously announced non-brokered private placement offering (the "Offering") of common shares (the "Common Shares"). WesCan issued an aggregate of 1,076,000 Common Shares at a price of
$0.20 per share for gross proceeds of $215,200. No finder's fees were
issued in connection with the Offering.
The net proceeds of the Offering will be used for general corporate
purposes, including debt reduction and efforts to accelerate business
development activities. The Common Shares issued under the Offering are
subject to a hold period until April 14, 2013.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILTY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
The information in this news release includes certain information and
statements about management's view of future events, expectations,
plans and prospects, including the use of proceeds from, the Offering,
that constitute forward looking statements.
These statements are based upon assumptions that are subject to
significant risks and uncertainties. Because of these risks and
uncertainties and as a result of a variety of factors, the actual
results, expectations, achievements or performance may differ
materially from those anticipated and indicated by these forward
looking statements. Although the Corporation believes that the
expectations reflected in forward-looking statements are reasonable, it
can give no assurances that the expectations of any forward-looking
statements will prove to be correct. The intended use of the proceeds
of the Offering by the Corporation might change if the board of
directors of the Corporation determines that it would be in the best
interests of the Corporation to deploy the proceeds for some other
purpose. The forward looking statements contained in this press release
are made as of the date hereof and the Corporation undertakes no
obligations to update publically or revise any forward looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable securities
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sale of securities in any state in the United States in which such
offer, solicitation or sale would be unlawful. The securities referred
to herein have not been and will not be registered under the United
States 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 requirements.
SOURCE: WesCan Energy Corp.
For further information:
Greg T. Busby, President & CEO
WESCAN ENERGY CORP.
Tel: (403) 540-9312
Fax: (403) 266-1510