KIN COMMUNICATIONS INC. ENGAGED FOR INVESTOR RELATIONS SERVICES
WMR-TSX.V
VANCOUVER, Nov. 18 /CNW/ - Glen Indra, President and CEO of Westminster Resources Ltd. ("Westminster" or the "Company")(WMR: TSX-V), is pleased to announce the engagement of Kin Communications Inc., ("Kin") to assist with the Company's investor relations efforts.
Kin is a Vancouver based, full service investor relations firm specializing in resource companies. Kin will assist Westminster in creating communication and marketing strategies and building relationships with finance professionals, investors and media contacts.
The Company will pay Kin a fee of $7,500 per month and will issue Kin 350,000 stock options to acquire up to 350,000 common shares of the Company at a price of $0.40 per share. The options are exercisable for a period of five years and in accordance with the TSX Venture Exchange policies, 25% of the options will vest each quarter from the date of the grant. The options are subject to regulatory approval. The agreement with Kin has an initial term of 12 months and is also subject to regulatory approval.
In addition, the Company wishes to announce a non-brokered private placement for up to 1,428,571 units at $0.35 per unit to raise gross proceeds of up to $500,000. Each unit will be comprised of one common share and one half of a common share purchase warrant. Each full common share purchase warrant will entitle the holder to purchase one common share at $0.47 per share with an expiry date of two years from the closing of the private placement. A finder's fee commensurate with TSX-V policies will be paid where applicable.
The funds raised will be used to conduct exploration on the Company's El Cobre and Navojoa Projects in Sonora, Mexico and for general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
WESTMINSTER RESOURCES LTD.
"Glen J. Indra"
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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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
%SEDAR: 00023843E
For further information:
For further information regarding Westminster Resources Ltd., please contact Leif Smither 604-608-0400, Toll Free: 1-877-608-0007 www.westminsterres.com. or
Kin Communications Inc.
Arlen Hansen, President
604-684-6730 or Toll Free: 1-866-684-6730 www.kincommunications.com
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