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VANCOUVER, BC, Nov. 8, 2023 /CNW/ - Western Atlas Resources Inc. ("Western Atlas" or "WA" or the "Company") (TSXV: WA), is pleased to announce that it has entered into a binding letter of intent with three arm's length parties including VV8 Investment Holding Corp ("VV8") (together the "Parties") to undertake a non-brokered private placement (the "Private Placement") to raise gross proceeds of C$4,000,000 through the sale of common shares of the Company. The common shares sold in the Private Placement will be issued at a price of $0.06 per common share after giving effect to a 4:1 consolidation of the Company's common shares (the "Consolidation").