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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 Group Mails Directors' Circular to Shareholders Recommending Acceptance of $0.56 Per Share Offer

16/04/2009 2:43pm

Marketwired Canada


Western Prospector Group Ltd. (TSX VENTURE:WNP) ("Western") today announced that
First Development Holdings Corporation, an indirect, wholly owned subsidiary of
CNNC International has commenced and mailed its previously announced offer to
acquire all of the issued and outstanding common shares (the "Shares") of
Western for cash consideration of $0.56 per Share (the "Offer"). The mailing of
the Offer and take-over bid circular is accompanied by the circular of the
Western board of directors, in which the Western board unanimously recommends
that the shareholders accept the Offer.


The Offer is open for acceptance until 5:00 p.m. (Toronto time) on May 21, 2009,
unless withdrawn or extended. The Offer is subject to certain conditions,
including there having been validly deposited under the Offer and not withdrawn
such number of Shares which, together with any Shares beneficially owned,
controlled or directed by the Offeror, its affiliates or joint actors, represent
at least 50.1% of the issued and outstanding Shares (on a fully diluted basis).


Full details of the Offer are contained in the takeover bid circular of the
Offeror and related materials and the directors' circular, copies of which may
be accessed electronically on the Internet at www.sedar.com.


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.


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