TORONTO, Dec. 7 /CNW/ - Gold World Resources Inc. (GDW-TSX Venture) (the "Company") is pleased to announce that it has closed, subject to approval by the TSX-Venture Exchange, the non-brokered private placement of 4,730,000 units raising a total of $236,500. Including $103,000 for exercised warrants, the total raised was $339,500.
Each unit consists of one common share of the Company at $0.05 and one half of one non-transferable share purchase warrant. Each full warrant entitles the holder to acquire one additional common share of the Company at $0.10 for a period of 12 months. The units issued on that offering will be subject to a four month hold period.
The proceeds of the private placement will be used to pay contributions to the registered capital of the Chinese joint venture company "Hebei Ming Yu Mining Corporation Ltd", due diligence for potentially obtaining interests in operating gold mines and for working capital purposes.
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.
SOURCE Gold World Resources Inc.
For further information: For further information: Hermann Derbuch, P.Eng., Tel.: (416) 594-9888, Fax: (416) 594-1967