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WNP Western Prospector Grp. Com Npv

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Share Name Share Symbol Market Type
Western Prospector Grp. Com Npv TSXV:WNP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Western Prospector Commences Legal Action Against Tinpo

18/11/2008 10:03am

Marketwired Canada


Western Prospector Group Ltd. (TSX VENTURE:WNP) ("Western") today announced
that, further to its press release dated October 29, 2008, it has commenced a
legal proceeding against Tinpo Holdings Industrial Company Limited ("Tinpo") and
others in connection with the failure of Tinpo to perform its obligations under
the Support Agreement dated July 15, 2008 and associated Tinpo offer (the
"Offer") to acquire all of the common shares of Western (the "Shares") for cash
consideration of $1.34 per Share. The Offer was withdrawn by Tinpo on September
30, 2008.


Western has filed a Notice of Application with the Ontario Superior Court of
Justice seeking certain remedies from Tinpo, 0829984 B.C. Ltd. (a wholly-owned
subsidiary of Tinpo), Yunfei Chen, Howard Balloch and The Balloch Group in
connection with the withdrawal of the Offer. Western will provide its
shareholders with additional information as it becomes available.


Note Regarding Forward-Looking Statements

This press release and other written or oral communication from the Company may
include certain statements that may be considered "forward-looking statements"
within the meaning of that phrase under Canadian securities laws. Statements
other than historical facts that address possible future events, plans or
developments are forward-looking statements. Such statements may be identified
by the use of words such as "will", "may", "expects", "estimate", "intend" or
the use of the future or conditional tense. Certain material factors or
assumptions were applied in drawing our conclusions and making those
forward-looking statements. Forward-looking statements reflect management's
current views with respect to possible future events and conditions and, by
their nature, are based on management's beliefs and assumptions and subject to
known and unknown risks and uncertainties, both general and specific to the
Company. Although the Company believes the expectations expressed in such
forward-looking statements are reasonable, such statements are not guarantees of
future performance and actual results or developments may differ materially from
those in our forward-looking statements. Readers are cautioned that risks may
change or new risks may emerge. Additional information regarding the material
factors and assumptions that were applied in making these forward looking
statements as well as the various risks and uncertainties we face are described
in greater detail in the "Risk Factors" section of our annual and interim
Management's Discussion and Analysis of our financial results and other
continuous disclosure documents and financial statements we file with the
Canadian securities regulatory authorities which are available at www.sedar.com
and available on the Company's website at www.westernprospector.com. The Company
undertakes no obligation to update this forward-looking information except as
required by applicable law.


1 Year Western Prospector Grp. Com Npv Chart

1 Year Western Prospector Grp. Com Npv Chart

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1 Month Western Prospector Grp. Com Npv Chart

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