July 31, 2012
July 31, 2012 LAC LA HACHE, BRITISH COLUMBIA - GWR Resources Inc. (“GWR” or the “Company”) (TSX VENTURE: GWQ) announces the closing of its previously announced and amended private placement equity financing (the “Offering”). GWR has issued 7,030,700 flow-through common share units (“Flow-Through Units”) at $0.12 per unit for gross proceeds of $843,684.00.
Each Flow-Through Unit consists of one flow-through common share (“Flow-Through Shares”) and one-half of one common share purchase warrant (“Warrants”). Each whole Warrant entitles the holder thereof to acquire one common share in the capital of the Company at a price of $0.25 per Common Share until July 31, 2014. The Warrants will not be listed for trading.
In connection with the Offering, M Partners Inc. and its sub- agents received a cash fee of $59,058 and 492,149 broker warrants (“Broker Warrants”). Each Broker Warrant is exercisable to purchase one common share at a price of $0.11 until July 31, 2014.
All securities issued under or in connection with the Offering are subject to a hold period that expires December 1, 2012. The Offering is subject to the final acceptance of the TSX Venture Exchange.
Proceeds from the issue of the Flow-Through Shares held within the Flow-Through Units will be used primarily to continue exploration of the Company’s properties in the Quesnel Trough, British Colombia.About GWR
GWR is an active mineral exploration company currently exploring for gold and base metals in British Columbia’s prolific Quesnel Trough. The Lac La Hache copper-gold porphyry/skarn magnetite-copper project hosts multiple zones containing commercial grades of gold, copper, silver and magnetite. The project is located between producing mines at Imperial Metals’ Mt. Polley Copper-Gold Mine and New Gold Inc.’s New Afton Copper-Gold project. The Lac La Hache project is well-served by rail, road and power infrastructure.
For further information:
John van Driesum, President/CEO
Telephone Number: 778-440-4472
Rob Shives, VP Exploration
Telephone Number: office 250-396-4978 / cell 613-882-1755Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Back to the News page