GWR Resources Provides Corporate Updates

ARMSTRONG, BC, Aug. 31 /CNW/ - GWR Resources Inc. (TSX Venture: GWQ) wishes to provide the following corporate updates:

2010 Annual and Special General Meeting

GWR's 2010 Annual and Special General Meeting was held on July 16th and following are the highlights:

  • Messrs. Eisler, Shives, James, and Reimer were re-appointed as directors
  • BDO Dunwoody LLP was re-appointed as auditors
  • as in previous years, a 10% rolling stock option plan was approved;  however, at the meeting, the Board unanimously agreed to limit the plan to that number of options equalling a maximum of 7.5% of the issued and outstanding common shares from time to time
  • the Shareholder Rights Plan which was previous approved at the 2007 Annual General Meeting was approved for extension on the same terms for a further 3 year period, subject to acceptance by TSX Venture Exchange

New Chief Financial Officer

In order to comply with the requirement of TSX Venture Exchange that the CEO and CFO be different persons, Lars Glimhagen has been appointed to the position of CFO (in the place of Irvin Eisler who continues as President and CEO).  Mr. Glimhagen has been GWR's in house accountant for a number of years. 

Investor Relations

GWR conducts its investor relations in house.  In that regard, Ron Birch has been hired on a month-to-month salaried position as a part time employee.  GWR plans to award a number of incentive stock options to Mr. Birch at some point in the future, but the terms of his employment do not require any particular award.  Mr. Birch works from a virtual office, but can be contacted through GWR's office in Armstrong, BC or by calling (250) 503-4735.  Mr. Birch has a long background within the investment industry, including being a past registered representative at a large brokerage firm.  Mr. Birch communicates with GWR's shareholders and the investment community. 

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 D. Sinclair, Executive Vice President
Company Telephone Number:  (604) 687 - 0789

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GWR RESOURCES INC.

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