Weststar Announces Saskatchewan 18 Metre Coal Property Agreement Amended
Weststar Resources Corp. have executed an amendment agreement to the Acquisition Agreement dated June 19, 2008 with respect to the Saskatchewan Tobin Lake 18 metre Coal property.
Under the terms of the Amendment Agreement the Company will pay the Vendors a total of $1,150,000 over a 36 month period and also issue to the Vendors an aggregate of 4,000,000 common shares over 12 months.
President, Mitchell Adam states, “We are very pleased to have come to a very workable agreement with the Vendors of the 18 Metre Coal property and we look forward to continue working closely with Dahrouge Geological Consulting Ltd. and advancing the property in the early new year”.
In addition, the Company has also granted incentive stock options to directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 990,000 common shares of the Company for a period of 2 years at a price of $0.10 per share, subject to TSX Venture Exchange approval.
