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.
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SOURCE WPC Resources Inc.