ARMSTRONG, BC, Sept. 17 /CNW/ - GWR Resources Inc. ("GWR") (TSX Venture:
GWQ) is pleased to announce that Raymond James Ltd. ("Raymond James"), the
agent for the brokered private placement of up to 2 million flow through units
("FT Units") and 400,000 non-flow through units ("NTF Units") of the Company
at a price of $1.25 (the "Private Placement"), has agreed to offer for sale an
additional 200,000 FT Units, on the same terms and conditions as the other FT
Units. This increase in the flow-through portion of the Private Placement will
result in total gross proceeds of the Private Placement of up to $3,250,000.
All the terms and conditions of the Private Placement remain unchanged,
and are as announced in GWR's news release issued on August 15, 2007. The net
proceeds of the Private Placement will be used by GWR for ongoing drilling of
its Lac La Hache property and for general working capital. The Private
Placement is expected to close around the end of this month.
The Private Placement is subject to certain conditions, including, but
not limited to, due diligence and receipt of TSX Venture Exchange and other
approvals. Pursuant to applicable securities laws, the securities offered will
be subject to a four month hold period. The securities offered under the
offering have not and will not be registered under the United States
Securities Act of 1933 (the "1933 Act") and may not be offered or sold in the
United States or to U.S. persons (as defined in Regulation S under the 1933
Act) unless the securities have been registered under the 1933 Act, or are
otherwise exempt from such registration.
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: Responsible Officer: Irvin Eisler, President,
Company Telephone Number: (250) 546-8048