Owner
Post by Franko10 ™ on Mar 24, 2005 16:54:29 GMT -5
RAB Special Situations L.P./Great Western Minerals Group Ltd.-Announcement (ccnm)
LONDON, UNITED KINGDOM--(CCNMatthews - March 24, 2005) - RAB Special Situations L.P. ("Special Situations") announces that Special Situations and William Philip Seymour Richards ("Philip Richards") (collectively the "Subscribers"), respectively subscribed for a total of 2,000,000 and 500,000 units (the "Units") of Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (the "Company"), at a price of Cdn.$0.40 per Unit (the "Private Placement"). Each Unit consists of one common share in the capital of the Company (a "Share") and one (1) Share purchase warrant (a "Warrant") of the Company. Each whole Warrant entitles the Subscribers, to acquire one additional Share of the Company (a "Warrant Share") at a price of Cdn.$0.50 per Warrant Share for a period of two (2) years from the Closing Date. The transaction took place off the market by way of private placement and closed on March 21, 2005.
The Subscribers have ownership of and control over the securities purchased in the Private Placement. The purchased securities represent approximately 29.17% of the issued and outstanding Shares on a partially diluted basis (assuming exercise of the Warrants) ("Partially Diluted Basis").
Immediately after the Private Placement, Special Situations owned 7,000,000 Shares and 7,000,000 Warrants, representing approximately 27.49% of the issued and outstanding Shares on a Partially Diluted Basis and Philip Richards owned 500,000 Shares and 500,000 Warrants, representing approximately 2.25% of the issued and outstanding Shares on a Partially Diluted Basis.
Special Situations purchased securities for investment purposes only and not with the purpose of influencing the control or direction of the Company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the Company in the future, including additional purchases of Shares. However, Special Situations and its joint actors, if any, do not intend to acquire 20% or more of any class of the outstanding voting or equity securities of the Company.
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(44) 20-7389-7000
(44) 20 7389 7054 (FAX)
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
LONDON, UNITED KINGDOM--(CCNMatthews - March 24, 2005) - RAB Special Situations L.P. ("Special Situations") announces that Special Situations and William Philip Seymour Richards ("Philip Richards") (collectively the "Subscribers"), respectively subscribed for a total of 2,000,000 and 500,000 units (the "Units") of Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (the "Company"), at a price of Cdn.$0.40 per Unit (the "Private Placement"). Each Unit consists of one common share in the capital of the Company (a "Share") and one (1) Share purchase warrant (a "Warrant") of the Company. Each whole Warrant entitles the Subscribers, to acquire one additional Share of the Company (a "Warrant Share") at a price of Cdn.$0.50 per Warrant Share for a period of two (2) years from the Closing Date. The transaction took place off the market by way of private placement and closed on March 21, 2005.
The Subscribers have ownership of and control over the securities purchased in the Private Placement. The purchased securities represent approximately 29.17% of the issued and outstanding Shares on a partially diluted basis (assuming exercise of the Warrants) ("Partially Diluted Basis").
Immediately after the Private Placement, Special Situations owned 7,000,000 Shares and 7,000,000 Warrants, representing approximately 27.49% of the issued and outstanding Shares on a Partially Diluted Basis and Philip Richards owned 500,000 Shares and 500,000 Warrants, representing approximately 2.25% of the issued and outstanding Shares on a Partially Diluted Basis.
Special Situations purchased securities for investment purposes only and not with the purpose of influencing the control or direction of the Company. Special Situations together with joint actors, if any, may, subject to market conditions, make additional investments in or dispositions of securities of the Company in the future, including additional purchases of Shares. However, Special Situations and its joint actors, if any, do not intend to acquire 20% or more of any class of the outstanding voting or equity securities of the Company.
FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
(44) 20-7389-7000
(44) 20 7389 7054 (FAX)
nw@rabcap.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
