Vancouver (pcJ News Briefs) – WCB Resources Ltd. (TSX-V: WCB) intends to close a non-brokered private placement of 6,000,000 common shares at a price of $0.05 per share for gross proceeds of $300,000. Sandfire Resources NL, the company’s largest shareholder, will be participating in the placement. No finder’s fees will be paid in connection with the financing.
Further to its previous announcement dated February 16, 2017 and March 31, 2017, WCB Resources has issued 3,000,000 common shares to one creditor of the company in consideration for settlement of a total combined debt of $150,000 a deemed price of $0.05 per share. The debt, and current conversion, was an advance to WCB as part of a Heads of Agreement for a proposed merger that was recently terminated.
WCB Resources is focussed on Misima Island in Papua New Guinea where the team has defined a compliant NI43-101 mineral inventory of 1.7M ounces of Au and 9M ounces of Ag.
photo credit: WCB Resources