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Re: News Release - Tuesday, June 19, 2007 Western Prospector Closes $34.6 Million "Bought Deal" Financing ======================================================================= NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Vancouver, Canada: Western Prospector Group Ltd. (the "Company") is pleased to announce that it completed a private placement of 8,050,000 Common Shares priced at $4.30 per share for gross proceeds of $34,615,000 on June 18, 2007 on a "bought deal" basis. The Company will use the net proceeds of the private placement to execute its 2007 work plan, to continue to advance the Saddle Hills Uranium Project in Mongolia toward a bankable feasibility study in 2008 and for general working capital. National Bank Financial Inc., Haywood Securities Inc., Dundee Securities Corporation and Cormark Securities Inc. (the "Underwriters") acted as underwriters for the offering. The Underwriters received a cash commission of 6% of the gross proceeds of the Offering and warrants entitling the Underwriters to acquire up to 402,499 Common Shares of the Company at a price of $4.61 per share until June 18, 2008. All securities issued are subject to a mandatory four-month hold period expiring on October 19, 2007. Anchorage Capital Master Offshore, Ltd. ("Anchorage"), an insider of the Company, acquired an aggregate of 2,000,000 of the Common Shares issued. In order to comply with OSC Rule 61-501, the Company advises that participation in the private placement by Anchorage was not finalized until shortly before the closing and, therefore, a material change report was not filed 21 or more days before the closing. "John S. Brock" John S. Brock President and CEO In the news release of March 3, 2006, Western advised that a lawsuit naming Western Prospector as a defendant has been commenced in the Supreme Court of British Columbia, in which the plaintiff, Maximum Ventures, Inc., is seeking, among other things, a declaration that Western Prospector holds certain of its material Mongolian properties, including a portion of the Saddle Hills Uranium interests, in trust for Maximum. Western is of the view that Maximum's allegations against Western are without foundation or merit and, as previously noted, Western will vigorously defend the action and take all appropriate steps to protect Western's interests. In this regard a trial date has been set for November 5, 2007. Additional information on this issue is available at Western's website at www.westernprospector.com. |
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| aus der Diskussion: | Western Prospector: Gold, Uran und vieles mehr! |
| Autor (Datum des Eintrages): | Ikar (20.06.07 00:28:38) |
| Beitrag: | 15 von 34 (ID:30031318) |
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