TORONTO, Oct. 19, 2012 /CNW/ - Gold World Resources Inc. (TSXV: GDW) (the "Company") is pleased to announce a non-brokered private placement (the "Offering") of up to 13 million units at a price of $0.025 per unit. Each Unit will consist of one common share and one share purchase warrant ("Warrant"). Each Warrant is exercisable at a price of $0.05 at any time within twelve (12) months from date of issue, and at a price of $0.10 thereafter until three years from date of issue. A finder's fee may be issued to arm's length parties who introduce subscribers to the Company, and is payable in cash, shares, and / or warrants subject to compliance with the TSX Venture Exchange ("TSXV").
The Offering is being made pursuant to TSXV Bulletin dated August 17, 2012, which provides for temporary relief from certain pricing requirements. The net proceeds of the financing will be used to maintain the Company's assets, for debt repayment and working capital purposes that meet the criteria established by the TSXV.
The Company is also pleased to announce the receipt of the Class 3 Mining Land Use Permit with Operational Guidelines for the Mt. Anderson Project, valid from August 2, 2012 to August 1, 2017.
About the Company
The Company is a gold, silver and precious metals exploration company, currently focusing is on the Mt. Anderson gold/silver, polymetallic project, near Whitehorse, Yukon, and on the recently acquired polymetallic property at Kempt Snare Lake in Nova Scotia.
ON BEHALF OF THE BOARD
Chairman & CEO
Gold World Resources Inc.
This Press Release may contain forward-looking statements (including "forward looking information" within the meaning of applicable Canadian securities legislation) related to the Company's activities which 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 such forward-looking information. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. The forward-looking statements contained herein are expressly qualified by this disclaimer. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Gold World Resources Inc.
For further information:
Hermann Derbuch, P.Eng.
Tel.: 416.594.9888 Fax: 416.594.1967