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WesternZagros secures C$57 million strategic investment


Published Aug 8, 2012
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WesternZagros Resources Ltd.

WesternZagros Resources Ltd. has signed a strategic investment agreement with Crest Energy International LLC (Crest). Under the Agreement, Crest will purchase, through a non-brokered, private placement, 40,714,286 Common Shares of the Company at Cdn$1.40 per share for gross proceeds of Cdn$57 million.

This price represents an approximate 10 percent premium to the August 4, 2012 closing share price. When this private placement is completed, Crest will own just under 10 percent of the Company's issued and outstanding Common Shares.

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