Post by Franko10 ™ on Sept 20, 2004 15:31:24 GMT -5
Great Western Minerals Group Ltd.
P.O. Box 69
Saskatoon, SK S7K 3K1
TSX VENTURE: GWG
USA OTC BB Symbol: GWMGF
CUSIP: 39141Y 10 3
August 28th, 2002
PRIVATE PLACEMENTS
Neil Yingling, President, is pleased to announce that the Company is proceeding with a non-brokered private placement of 2,000,000 units at a price of $0.30 per unit for gross proceeds of $600,000. Each unit will be comprised of one common share of the Company and one-half of a non-transferable common share purchase warrant, with one whole warrant plus $0.40 entitling the holder to acquire one additional common share for a period of one year. Up to 80% of the units will qualify as a flow-through share investment for Canadian income tax purposes.
The proceeds will be used to fund exploration work on the Company's Canadian mineral projects and for working capital.
In addition, the Company is issuing and has invited, by subscription to a separate non-brokered private placement of 5,000,000 units at a price of $0.30 per unit with the same corresponding attached warrant (per above) for gross proceeds of $1,500,000 to and at the request of a U.S. Capital funding organization with whom the Company has been in talks for the past two weeks. The proceeds of this non-flow through private placement would be used to advance the Company's gold/copper, rare earth and diamond exploration projects in the U.S.A. as well as for working capital.
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Great Western Minerals Group Ltd. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds, gold and rare earth elements.
For further information, call Neil Yingling at 1 702 896 6724, Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN MINERALS GROUP LTD.
Neil Yingling
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.
P.O. Box 69
Saskatoon, SK S7K 3K1
TSX VENTURE: GWG
USA OTC BB Symbol: GWMGF
CUSIP: 39141Y 10 3
August 28th, 2002
PRIVATE PLACEMENTS
Neil Yingling, President, is pleased to announce that the Company is proceeding with a non-brokered private placement of 2,000,000 units at a price of $0.30 per unit for gross proceeds of $600,000. Each unit will be comprised of one common share of the Company and one-half of a non-transferable common share purchase warrant, with one whole warrant plus $0.40 entitling the holder to acquire one additional common share for a period of one year. Up to 80% of the units will qualify as a flow-through share investment for Canadian income tax purposes.
The proceeds will be used to fund exploration work on the Company's Canadian mineral projects and for working capital.
In addition, the Company is issuing and has invited, by subscription to a separate non-brokered private placement of 5,000,000 units at a price of $0.30 per unit with the same corresponding attached warrant (per above) for gross proceeds of $1,500,000 to and at the request of a U.S. Capital funding organization with whom the Company has been in talks for the past two weeks. The proceeds of this non-flow through private placement would be used to advance the Company's gold/copper, rare earth and diamond exploration projects in the U.S.A. as well as for working capital.
--------------------------------------------------------------------------------
Great Western Minerals Group Ltd. is a diversified, Saskatchewan-based, Canadian mining exploration and development company exploring for diamonds, gold and rare earth elements.
For further information, call Neil Yingling at 1 702 896 6724, Gary Billingsley at 1 306 220 5377 or Len Willetts at 1 905 544 8502.
GREAT WESTERN MINERALS GROUP LTD.
Neil Yingling
President
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
© 2004 Great Western Minerals Group Ltd.