Wesdome announces shares for debt transaction



    TORONTO, Sept. 24 /CNW/ - Wesdome Gold Mines Ltd. ("Wesdome") is pleased
to announce that it has acquired 1,228,141 additional common shares (the
"Shares") of Moss Lake Gold Mines Ltd. ("Moss Lake") pursuant to a Shares for
Debt Settlement Agreement which provides that the issuance of the Shares
extinguishes $307,035.25 of Moss Lake's indebtedness to Wesdome. All of the
Shares were acquired at a price of $0.25 per Share. As at the date hereof
after giving effect to the issuance of the Shares, Wesdome owns or exercises
control or direction over 25,282,586 common shares of Moss Lake, representing
approximately 56.04% of the total number of outstanding common shares of Moss
Lake.
    A copy of the report filed by Wesdome pursuant to the applicable early
warning requirements can be found on SEDAR at www.sedar.com or by contacting
Donovan Pollitt at 416-360-3743.

    This news release contains "forward-looking information" which may
include, but is not limited to, statements with respect to the future
financial or operating performance of the Company and its projects. Often, but
not always, forward-looking statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or variations (including
negative variations) of such words and phrases, or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur
or be achieved. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by the
forward-looking statements. Forward-looking statements contained herein are
made as of the date of this press release and the Company disclaims any
obligation to update any forward-looking statements, whether as a result of
new information, future events or results or otherwise. There can be no
assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in
such statements. The Company undertakes no obligation to update
forward-looking statements if circumstances, management's estimates or
opinions should change, except as required by securities legislation.
Accordingly, the reader is cautioned not to place undue reliance on
forward-looking statements.





For further information:

For further information: Rowland Uloth, President; Donovan Pollitt, VP
Corporate Development; 8 King St. East, Suite 1305, Toronto, ON, M5C-1B5, Toll
Free: 1-866-4-WDO-TSX, Phone: (416) 360-3743, Fax: (416) 360-7620, Email:
invest@wesdome.com, Website: www.wesdome.com

Organization Profile

Wesdome Gold Mines Ltd.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890