TSX-V: WPQ
VANCOUVER, Oct. 5, 2012 /CNW/ - WPC Resources Inc. (the
"Company") announces that, further to its news release dated
September 19, 2012, it has completed
its non-brokered private placement. The Company issued an
aggregate of 7,540,768 units at a price of $0.065 per unit for gross proceeds of
$490,149.92. Each unit consists
of one common share and one common share purchase warrant which
entitles the holder to purchase an additional common share of the
Company at a price of $0.12 until
October 5, 2014. The shares and
underlying shares are subject to a four month hold period.
The Company paid finder's fees in the amount of
$1,456 in connection with the private
placement.
The proceeds of the Private Placement will be
used to fund the work program on the Company's "Toiyabe Pediment"
and "ZPG" properties. The properties are located in central
Nevada within the Battle
Mountain-Eureka Trend near the Cortez District.
About WPC Resources Inc.
WPC Resources Inc. is a Vancouver, British Columbia based gold
exploration and development company.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND
INFORMATION
This news release contains certain
"forward-looking information" within the meaning of Canadian
securities laws. Actual results may differ materially from those
indicated by such forward-looking information. All information
included herein, other than statements of historical fact,
including, without limitation, information regarding future
production, is considered forward-looking information and involves
various risks and uncertainties. There can be no assurance that the
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE WPC Resources Inc.