TORONTO, May 26, 2011 /CNW/ - Gold World Resources Inc. (TSXV:GDW) or
("the "Company") is pleased to announce the successful completion of
the previously announced private placement (the "Offering") for gross
proceeds of $1,400,000.
The placement consisted of Units consisting of one common share with a ½
warrant attached, priced at $0.05 per Unit (8.9 million Units) and
Flow-through ("FT") shares priced at $0.07 per FT share (9.8 million
shares). Each whole common share purchase warrant entitles the holder
thereof to acquire one additional common share of Gold World Resources
Inc. until May 24, 2012 at an exercise price of $0.10 per share.
The gross proceeds from the sale of the FT-shares will be used for
exploration and development of the Mount Anderson Yukon gold/silver,
polymetallic Project. The expenditures will qualify as "Canadian
exploration expenses" (CEE) under the Income Tax Act (Canada) and will
be renounced to Investors for the 2011 taxation year. The net proceeds
from the private placement are primarily designated for the exploration
program and for general working capital purposes.
The securities issued are subject to a hold period of 4 months in
accordance with the rules and policies of the TSX Venture Exchange.
There is a finders' fee payable on a portion of the Units and part of
FT portion of the placement. The Offering remains subject to the final
approval of the TSX Venture Exchange.
About the Company:
The Company is a gold and precious metals exploration company with a
current focus on the Mount Anderson Yukon gold/silver, polymetallic
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:
Hermann Derbuch, P.Eng.
Tel.: 416.594.9888 Fax: 416.594.1967