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WESTERN AND PACIFIC RESOURCES CORP. ENTERS PRIVATE PLACEMENT

 VANCOUVER, British Columbia, May 20 /PRNewswire/ -- Western and Pacific Resources Corp. ("the company") announced that it has entered into a private placement to sell 1,600,000 A Units at $0.25(U.S.) per unit and 4,000,000 B Units at $0.25(U.S.) per unit. Each A Unit shall consist of one share and one non-transferable share purchase warrant granting the holder thereof the right to purchase one additional share at a price of $0.25(U.S.) per share in the first year and $0.35(U.S.) per share in the second year. Each B Unit shall consist of one share and one non-transferable share purchase warrant granting the holder thereof the right to purchase one additional share at a price of $0.25(U.S.) per share in the first year and $0.35(U.S.) per share in the second year and a further warrant granting the holder the right to purchase in the aggregate a further 3,480,000 shares at a price of $0.25(U.S.) per share within 180 days.
 The proceeds from the private placement will be used to reduce present indebtedness and for general working capital purposes.
 -0- 5/20/93
 /CONTACT: Allan Ferguson, president of Western and Pacific Resources, 604-669-1322/
 (WNPRF.)


CO: Western and Pacific Resources Corp. ST: British Columbia IN: SU:

MS -- LA030 -- 0926 05/20/93 16:28 EDT
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Publication:PR Newswire
Date:May 20, 1993
Words:236
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