Gold World Resources CEO shares for debt approved

TORONTO, Sept. 15, 2011 /CNW/ - Gold World Resources Inc. (TSXV:GDW) or ("the "Company") is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the shares for debt filing (see press release May 31, 2011) as approved by shareholders at the Annual and Special Meeting held June 27, 2011.

As indicated in the 2011 Management Information Circular, the shares for debt filing is to convert a total amount of $262,000 owed by the Company to Mr. Hermann Derbuch, Chief Executive Officer, for unpaid salaries during the period of 2008 to 2010. The annual salary paid and payable during this time period is summarized in the following table:

Year Salary Paid Salary Payable Annual Salary
2008 $12,750 $137,250 $150,000
2009 $81,250 $68,750 $150,000
2010 $94,000 $56,000 $150,000

A total of 5,240,000 common shares will be issued to Mr. Derbuch in settlement of the salaries payable from 2008 to 2010. There is a restriction on trading the settlement for a period of four months and one day from the date of issue.

About the Company:
The Company is a precious- and base-metals exploration company focusing on the Mount Anderson Yukon gold/silver, polymetallic Project.

ON BEHALF OF THE BOARD

"Hermann Derbuch",          
Chairman & CEO           
Gold World Resources Inc.          

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Alberta), including statements concerning Gold World Resources' plans for the Property, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gold World Resources, 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 TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

 

SOURCE Gold World Resources Inc.

For further information:

Hermann Derbuch, P.Eng.
Tel.: 416.594.9888   Fax: 416.594.1967

Profil de l'entreprise

Gold World Resources Inc.

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