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White Pine Resources Inc.
TSX VENTURE: WPR
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Dec 23, 2008 16:15 ET
White Pine Resources Inc. Closes Private Placement Financing
TORONTO, ONTARIO--(Marketwire - Dec. 23, 2008) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
White Pine Resources Inc. (formerly WSR Gold Inc.) (TSX VENTURE:WPR) ("White Pine") is pleased to announce today that it has closed its previously announced non-brokered offering to raise gross proceeds of $1,068,750. Pursuant to the offering, White Pine issued an aggregate of 4,275,000 flow-through units ("FT Units") at $0.25 per FT Unit, each such FT Unit consisting of one "flow-through" common share and one share purchase warrant of White Pine, each whole such share purchase warrant entitling the holder thereof to acquire one additional common share of White Pine (which shall not be a "flow-through" share) for a period of 12 months at an exercise price of $0.35 per share. All securities issued in connection with the offering are subject to a statutory hold period expiring on April 24, 2009.
The private placement remains subject to the final approval of the TSX Venture Exchange.
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