QUEBEC CITY, Feb. 16 /CNW Telbec/ - Conway Resources Inc. ("Conway" or
the "Corporation") (TSX-V: CWY) is pleased to announce it has retained
Notre-Dame Capital Inc. ("NDC"), an Exempt Market Dealer registered
with the Autorité des marchés financiers (AMF) for the purpose of
establishing an equity line financing.
Conway has pre-qualified for an equity line financing of up to $5
million, subject to a final binding term sheet. The engagement with NDC
will be for an initial period of 120 days on a non-exclusive basis,
except for equity line financings, which may be extended by mutual
agreement of the parties.
Laurent Beaudoin, Conway's President and Chief Executive Officer, said
that: "We are pleased to work with Notre-Dame Capital in establishing
this equity line financing. We believe that this type of financing has
many advantages for Conway, such as providing access to the working
capital funds necessary to operate the Company and enabling us to raise
money on an as-needed basis. This equity line financing will help us
advance the Belleterre Mine project more efficiently by providing us
with the necessary cash reserves."
In conjunction with retaining NDC, Conway will complete and file an
Annual Information Form and/or a short form prospectus.
The agreement with NDC is subject to regulatory approval.
About Notre-Dame Capital Inc.
NDC is Canada's leading Exempt Market Dealer in providing Canadian
companies with flexible and innovative Equity Line Financings. NDC has
pre-qualified some 110 Canadian companies for in excess of $3.2 Billion
of Equity Lines.
NDC expects this renewed and fully compliant financing mechanism will
experience robust growth in Canada as Canadian CEO's and Boards fully
understand the many advantages, the most noteworthy being lowering the
cost of capital substantially to 10 percent or less versus an average
of 36 percent in NDC's latest survey.
About Conway Resources Inc.
Conway is a mining exploration company that owns four gold properties
and one rare metals property in Quebec. Its main asset is the
Belleterre Mine property. The property is the site of the old
Belleterre mine, which produced over 800,000 ounces of gold between
1936 and 1959. A total of 2.18 million tonnes of ore at an average
grade of 10.73 g/t Au were extracted from the mine, primarily from vein
12 (95% of production). Earlier reports indicate the presence of at
least 21 veins on the property.
More information can be found on Conway's website at www.ressources-conway.com.
This press release contains certain forward-looking statements that
might involve uncertainty, time frames, and/or known and unknown risks
beyond the Company's control. The Company's actual results, performance
and achievements may differ materially from the results, performance
and achievements implied by such forward-looking statements.
Neither the TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange Inc.) accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE CONWAY RESOURCES INC.
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