Does anyone know if WMT is listed on Toronto exchange? Just noted this......
LOS ANGELES, Mar 04, 2008 (BUSINESS WIRE) -- Western Metals Corporation (Pink Sheets:WTLC) today announced that it has closed its asset purchase transaction with LOTO Energy II, LLC to acquire the entire working interest and net revenue interests in two natural gas wells located in the Lindsey Slough Field in Solano County, California. Western Metals' shareholders had approved the transaction by shareholder vote in October, 2007.
As a result of the transaction, LOTO received 5,714,286 common shares constituting approximately 43% of Western Metals' outstanding shares upon completion of the transaction. Four new directors were appointed, Paul A. Novelly, G. Louis Graziadio III, Richard Lonquist and William R. Lang and the three directors immediately prior to the transaction, Hans Buehler, Vivian Buehler and Henry Present, resigned from the Board. Western Metals will operate the acquired properties and look for other acquisition opportunities in the oil and gas industry.
Except for the historical information, other statements in this release are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially, including, but not limited to, industry conditions, economic conditions, competitive factors and pricing pressures, and shifts in market demand as well as other risks.
SOURCE: Western Metals Corporation
WMT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
