Conway Resources retains Notre-Dame Capital to establish equity line financing

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.

Forward-Looking Statements

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.

For further information:

Conway Resources Inc.
Laurent Beaudoin   
President and Chief Executive Officer  
(418) 871-3334    
conway@ressources-conway.com 
Francois Kalos
Chief Financial Officer
(450) 993-0828
kalos@solak.ca
www.ressources-conway.com

Profil de l'entreprise

CONWAY RESOURCES INC.

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