Western Metals Corporation
Western Metals Corporation , originally organized in 1980 under the name Coastcast Corporation is incorporated under the laws of the State of California. In November 2004 the company's name was changed to Western Metals Corporation. Between 2005 and 2008, the company did not have any significant business operations and wound down liabilities remaining from its prior business. In May 2007, the company entered into an Asset Purchase Agreement with LOTO Energy II, LLC for the purchase of the two natural gas wells in California which the company currently operates. Following shareholder approval, the company concluded its acquisition of the gas wells, in February 2008.
The Company’s facilities consist of the two natural gas wells, which are located in Solano County, California, on land leased from the State of California. The extraction and sale of natural gas from the two wells is the company's sole business activity.
13.369.326 common shares with no par value were issued and outstanding as of the last fiscal year end.