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Post by Franko10 ™ on Sept 20, 2004 15:47:02 GMT -5
NEWS RELEASE FINANCING ARRANGED Gary Billingsley, President, is pleased to announce that the Company has arranged a non-brokered private placement of a maximum of 8 million units at $0.20 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant allows the purchase of an additional common share at $0.25 for 2 years. The majority of the issue is targeted to investors in the United Kingdom.
Proceeds from the financing will be used to further advance the exploration and development of the Company's Hoidas Lake rare earth project and the Chuckwalla gold/copper project in the US.
Work program details on these projects will be announced over the coming weeks.
Gary L. Billingsley, C.A., P.Eng., P.Geo. President
For further information contact the Company at (306) 668-0701 or Leonard Willetts at (905) 544-8502. All email inquiries should be made to info@gwmg.ca (website: http://www.gwmg.ca) Direct mail: Great Western Minerals Group Ltd., 119A Cardinal Crescent, Saskatoon, SK S7L 6H5
(The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the foregoing contents) © 2004 Great Western Minerals Group Ltd.
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