NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES
TORONTO, Jan. 31, 2012 /CNW/ - Gold World Resources Inc. (TSXV: GDW) or
("the "Company") is pleased to announce that it has appointed Kingsdale
Capital Markets Inc. (the "Agent") to act as the agent on behalf of the
Company, on a reasonable best efforts basis, to complete a private
placement offering to raise up to $700,000 (the "Financing") for the
Company through the sale of up to $400,000 of common share units
("Units") and up to $300,000 of flow-through shares ("FT Shares") at a
price of $0.05 per Unit and $0.06 per FT Share.
Each Unit will be comprised of one (1) common share and one-half common
share purchase warrant. Each whole warrant is exercisable at a price
of $0.10 for one common share for a period of twenty-four (24) months
following the closing of the Offering, subject to an acceleration
provision if the price of the Company's common shares closes above
$0.20 for a period of 20 consecutive trading days. In this event, the
warrants must be exercised or will expire thirty calendar days after
notice is mailed to the holders of warrants.
Each FT Share will qualify as a "flow-through share" for the purposes of
the Income Tax Act (Canada) and exploration expenses will be renounced for the 2012 tax year.
The Company has agreed to pay to the Agent a fee (the "Agent's fee")
equal to 8.0% of the gross proceeds (excluding proceeds from investors
on the President's List). In addition the Company will grant the Agent
non-assignable warrants ("Broker Warrants") to purchase that number of
Common Shares equal to 7.5% of the number of Units or FT Shares
distributed pursuant to the Financing (reduced to 2% of the number of
Units or FT Shares sold to investors on the President's List). The
Broker Warrants will be priced at the issue price of the Units and will
be exercisable on the same terms and conditions as the warrants
comprised within the Units.
The Offering is scheduled to close on or about February 23, 2012 and is
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the TSX
Venture Exchange. All securities issued pursuant to the Offering will
be subject to a hold period of four month and one day from the date of
closing of the Offering.
The use of proceeds will be primarily to advance the exploration of the
Company's Mount Anderson Property. 2011 Exploration results indicate a
major zoned area of mineralization extending more than 6,000 meters
across with a gold-enriched core of 1,750m by 400m wide. There is no
record or evidence of any past exploration at three of the six strong
anomalies detected within the zoned area. Money raised will be used for
the implementation of the Phase 1A Exploration Program (proposed in the
recently filed NI43-101 Technical Report) which foresees core drilling
of 1,780m to test 3 strong (soil geochemical and airborne magnetic and
radiometric survey) anomalies as well as for general corporate
About the Company:
The Company is a precious- and base-metals exploration company focusing
on the Mount Anderson Yukon gold/silver, polymetallic Project.
The securities offered have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or applicable exemption
from the registration requirements. This news release does not
constitute an offer to sell or the solicitation of any offer to buy nor
will there be any sale of these securities in any province, state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such province, state or jurisdiction.
This Press Release may contain forward-looking statements (including
"forward looking information" within the meaning of applicable Canadian
securities legislation) related to the Company's activities which
involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking
information. Such information contained herein represents management's
best judgment as of the date hereof based on information currently
available. The Company disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws. The forward-looking statements
contained herein are expressly qualified by this disclaimer. Neither
the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press release.
ON BEHALF OF THE BOARD
Chairman & CEO
Gold World Resources Inc.
SOURCE Gold World Resources Inc.
For further information:
Hermann Derbuch, P.Eng.
Tel.: 416.594.9888 Fax: 416.594.1967