TORONTO, Feb. 25 /CNW/ - Gold World Resources Inc. (GDW-TSX Venture) (the
"Company") is pleased to announce that it has closed the second tranche of a
non-brokered private placement (the "Placement"), raising approximately
$500,000 by issuing a total of 8,333,333 units of its securities at a price of
$0.06 per unit. Each unit consists of one common share and one half of one
share purchase warrant. Each whole warrant is exercisable for the purchase of
one additional common share at a price of $0.10 per share for a period of
twelve months from date of close. Finder's fees up to 10% of gross proceeds
are due in respect of a portion of the Placement.
The proceeds of this second tranche financing, when combined with the
$368,000 proceeds of the previously announced (see press release
January 2, 2008) first tranche, aggregate to $868,000. The proceeds of the
private placement will be used to fund the Ming Gold/Silver Project and for
working capital purposes.
About Gold World Resources Inc.:
The Company is exploring for precious metals in China and has signed
recently a Joint Venture Contract to establish a Sino-Foreign Contractual
Joint Venture Company for the exploration and development of the Ming
(Yangjiagou) Gold/Silver Project. For more information about the Company's
activities we invite you to visit our website www.goldworldresources.com.
ON BEHALF OF THE BOARD
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.
For further information:
For further information: Hermann Derbuch, P.Eng., Tel.: (416) 594-9888,
Fax: (416) 594-1967