TORONTO, ONTARIO — (Marketwire) — 08/18/11 — Lonestar West Inc. (TSX VENTURE: LSI) („Lonestar“ or „the Company“) is pleased to announce it has closed a non-brokered private placement offering of 2,154,900 common shares at $0.60 per common share for gross proceeds of $1,292,940 (the „Financing“).
No finder-s fees or commissions were paid in connection with the Financing. The proceeds of the Financing will be used for the repayment of subordinate debt and general corporate purposes. The common shares issued pursuant to the Financing will all be subject to a four month regulatory hold period commencing from the date of closing.
About Lonestar West
The Company currently operates a fleet of HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focussed on profitably growing its HVAC services to become a major national competitor in the market area.
For more information please visit the Lonestar West website at .
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.
Contacts: Lonestar West Inc. James Horvath President & CEO 403-887-2074
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