February 26th, 2024 -- TheNewswire – Western Star Resources (CSE:WSR) (“Western Star” or the “Company”) is pleased to announce that its Board of Directors has approved, by board resolution, the consolidation of all of its issued and outstanding securities on a seven-for-one basis, pursuant to the policies of the Canadian Securities Exchange. The Company’s authorized share capital currently consists of an unlimited number of common shares without par value, of which 20,529,332 shares are issued and outstanding, with a further 8,677,800 shares reserved for issuance upon the exercise of outstanding warrants. An additional 800,000 shares are reserved for issuance upon the exercise of outstanding options.

 

Following consolidation and subject to rounding, Western Star will have 2,932,762 common shares issued and outstanding, subject to additional share issuance pursuant to outstanding warrants and options being exercised prior to the effective date of the consolidation. The Board of Directors believes that the share consolidation will provide the Company with increased flexibility to seek financing opportunities and strategic acquisitions. The Company does not intend to undergo a name change in conjunction with the proposed consolidation.

 

Western Star has further announced that it has canceled the $800,000 non-brokered private placement announced on December 12, 2023.

 

Additional Information

 

Additional information about the Company and the Transaction is available on SEDAR at www.sedarplus.ca under the Company’s profile. The summary of the Transaction set out above is qualified in its entirety by reference to the description of the Transaction in the Company’s filing statement posted on SEDAR.

 

About Western Star Resources

 

Western Star Resources is a mineral exploration and development company. The company’s objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders. The company currently owns nine non-surveyed contiguous mineral claims totaling 2,797 hectares, which are located within the Revelstoke mining division of British Columbia. The Western Star property group is located approximately 50 kilometers southeast of Revelstoke, B.C., and roughly 10 kilometers north of the abandoned community of Camborne.

   

Contact Information:

 

Blake Morgan,

CEO and Director

blake@acvc.vc

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

 

Certain of the statements made and information contained herein may constitute “forward-looking information”. In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.