Vancouver, British Columbia--(Newsfile Corp. - February 15, 2019) - Westminster Resources Ltd. (TSXV: WMR) (the "Company" or "Westminster") announces that it proposes to undertake a private placement to raise gross proceeds of up to $200,000 (the "Offering") through the sale of up to 4,000,000 common shares priced at $0.05.
The proceeds from the Offering will be used for general working capital. A finder's fee commensurate with TSX Venture Exchange policies may be paid in connection with the Offering. The Offering is subject to the acceptance of the TSX Venture Exchange and board approval.
The Company is further pleased to announce that all of the resolutions put forth at its Annual General Meeting of Shareholders held on February 15, 2019 have been approved. In addition to the approval of the Company's Advance Notice Policy, rolling stock option plan, and the re-appointment of Dale Matheson Carr-Hilton Labonte LLP as auditors of the Company for the ensuing year, the number of directors was set at four and the shareholders elected the following directors of the Company:
Jason Cubitt - Interim President and Chief Executive Officer and Director of the Company since August 29, 2017;
Chafika Eddine - Director of the Company since October 2, 2018;
Christopher Gale - Director of the Company since July 17, 2018; and
Daniel Maarsman - newly elected Director of the Company.
About Westminster Resources Ltd.
Westminster Resources is a Latin American focused mining exploration company. The Company holds a 100% interest in a package of highly prospective copper properties in southern Peru. These properties total over 36,000 hectares within the country's prolific coastal copper belt-source of nearly half of Peru's copper production. Prior work has identified both porphyry and IOCG style mineralization. The Company also holds a 100% interest in the 18,000-hectare El Cobre property in Sonora, Mexico, prospective for world-class epithermal and copper-gold porphyry systems.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
Interim President and Chief Executive Officer
For further information regarding Westminster Resources Ltd., please call 604-608-0400 or Toll Free: 1-877-608-0007.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
This news release may contain forward-looking information which is not comprised of historical facts. Forward- looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward- looking information. Forward-looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42876