TORONTO, ONTARIO--(Marketwired - Jun 15, 2015) - Waseco Resources Inc. ("Waseco" or "the Company") (TSX VENTURE:WRI)(FRANKFURT:WSE) is pleased to report that it has negotiated a reduction of this year's US$75,000 advanced royalty payment relating its Battle Mountain Ridge property in Nevada. The royalty holder has agreed to accept a cash payment of US$10,000, and US$15,000 in Company stock at a price of Cdn$0.05 per share. This transaction is subject to regulatory approval.
The Company also reports that it has closed the initial tranche of its previously announced Cdn$250,000 private placement financing. The Company has closed on Cdn$100,000. The Company is extending the private placement financing, subject to regulatory approval. The proceeds from the financing are intended to be used for a follow-up drilling program at Battle Mountain Ridge, around the high grade discovery hole, # 12-5, which intersected 25.4 g/t Au (0.9oz/t) over 3.7m (12 feet) in the interval 150-153.7m (492-504 feet) and for general working capital purposes.
For further information, please visit the Waseco web site at: www.wasecoresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Waseco Resources Inc.
Richard Williams, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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