ARMSTRONG, BC, Oct. 23 /CNW/ - GWR Resources Inc. (TSX Venture: GWQ) announces that it is arranging, subject to TSX Venture Exchange approval, a private placement of up to 3,750,000 units at a price of $0.12 per unit for gross proceeds of up to $450,000.
Each unit will consist of one common share plus one non-transferable warrant entitling the investor to purchase one additional common share for a period of 24 months at a price of $0.12 per share. Some of the units will consist of "flow-through" shares and warrants exercisable for non flow-through shares, such warrants only being exercisable for 18 months.
No finder's fees are payable.
The proceeds of this private placement will mostly be used for ongoing expenditures relating to the Company's property near Lac La Hache, B.C.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE GWR RESOURCES INC.
For further information: For further information: Responsible Officer: Harley Sinclair, Executive Vice President, Telephone Number: (604) 687-0789