November 14, 2008
ARMSTRONG, BRITISH COLUMBIA — GWR Resources Inc. (“GWR”) (TSX Venture: GWQ), further to its news release dated October 29, 2008 is pleased to announce that it has received approval from the TSX Venture Exchange (the “Exchange”) to amend the terms of an aggregate of 4,393,995 currently outstanding share purchase warrants of GWR issued pursuant to its November 21, 2007 private placement with MineralFields Group. GWR has now issued the amended warrants (the “Warrants”) to MineralFields Group. After consultation with MineralFields Group, GWR’s Board of Directors determined that it was in the best interests of GWR to take this action in order to encourage and expedite the exercise of the Warrants and supplement GWR’s working capital, and further to encourage MineralFields Group to invest further into GWR in the foreseeable future. MineralFields Group has been an important investor into GWR over the last couple of years, and GWR looks forward to an ongoing, strong and mutually beneficial relationship with them.
The Warrants entitle holders to acquire one non flow-through common share (a “Share”) of GWR until November 21, 2009, at an exercise price determined as follows: (i) $0.35 per Share, if the Warrants are exercised in the period from the date of Warrants until December 31, 2008; (ii) $0.50 per Share, if the Warrants are exercised in the period from January 1, 2009 until March 31, 2009; (iii) $0.65 per Share, if the Warrants are exercised in the period from April 1, 2009 until June 30, 2009; (iv) $0.80 per Share, if the Warrants are exercised in the period from July 1, 2009 until September 30, 2009; and (v) $0.95, if the Warrants are exercised in the period from October 1, 2009 until November 21, 2009. The Warrants are subject to accelerated expiry in certain circumstances, as prescribed by the Exchange policies.
ABOUT GWR — GWR Resources Inc. is a British Columbia company with its exploration office in Lac La Hache, British Columbia. GWR’s property is comprised of approximately 65 square kilometres of contiguous claim groups located approximately 17 kilometres north northeast of Lac La Hache in south central British Columbia. The property is accessed by approximately 30 kilometres of all weather logging roads. Lac La Hache is located on B.C. Highway 97, and is serviced by B.C. Rail, B.C. Hydro, and natural gas. Operations on the property may be carried out 12 months of the year. GWR has accumulated the property and conducted exploration since 1988.
For further information, please contact:
Responsible Officer: Irvin Eisler, President
Company Telephone Number: (250) 546-8048The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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