Owner
Post by Franko10 ™ on Nov 3, 2004 16:06:34 GMT -5
NEWS RELEASE
BROKERED PRIVATE PLACEMENT ARRANGED
Gary Billingsley, President, is pleased to announce that an engagement letter has been signed with Union Securities Ltd. to act as exclusive agents with respect to a brokered private placement of flow-through units. Details of the proposed financing are:
Issuer: Great Western Minerals Group Ltd.
Gross Proceeds: Up to CDN$1,500,000, all of which will be flow-through funds eligible for federal tax credits, and provincial tax credits where applicable.
Offering: Up to 5,000,000 flow-through units ("Units"). Each Unit shall consist of one flow-through common share and one-half of a flow-through share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase an additional flow-through common share at a price of CDN $0.40 per common share for a period of 24 months.
Offering Price: CDN$0.30 per Unit.
Offering Jurisdictions: British Columbia, Alberta, Saskatchewan and Manitoba, and in any other jurisdictions agreed to by the parties.
The funds will be used to explore and develop the Company's 100%-owned Hoidas Lake rare earth project in northern Saskatchewan.
Management looks forward to working with Union Securities, and in particular their local Saskatchewan offices, in completing the offering.
Gary L. Billingsley, C.A., P.Eng., P.Geo.
President
For further information contact the Company at (306) 668-0701. All email inquiries should be made to info@gwmg.ca (website: http://www.gwmg.ca) Direct mail: Great Western Min
BROKERED PRIVATE PLACEMENT ARRANGED
Gary Billingsley, President, is pleased to announce that an engagement letter has been signed with Union Securities Ltd. to act as exclusive agents with respect to a brokered private placement of flow-through units. Details of the proposed financing are:
Issuer: Great Western Minerals Group Ltd.
Gross Proceeds: Up to CDN$1,500,000, all of which will be flow-through funds eligible for federal tax credits, and provincial tax credits where applicable.
Offering: Up to 5,000,000 flow-through units ("Units"). Each Unit shall consist of one flow-through common share and one-half of a flow-through share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase an additional flow-through common share at a price of CDN $0.40 per common share for a period of 24 months.
Offering Price: CDN$0.30 per Unit.
Offering Jurisdictions: British Columbia, Alberta, Saskatchewan and Manitoba, and in any other jurisdictions agreed to by the parties.
The funds will be used to explore and develop the Company's 100%-owned Hoidas Lake rare earth project in northern Saskatchewan.
Management looks forward to working with Union Securities, and in particular their local Saskatchewan offices, in completing the offering.
Gary L. Billingsley, C.A., P.Eng., P.Geo.
President
For further information contact the Company at (306) 668-0701. All email inquiries should be made to info@gwmg.ca (website: http://www.gwmg.ca) Direct mail: Great Western Min
