Welcome to the Great Western Minerals Group HUB On AGORACOM
Great Western Minerals Group Ltd. is a Saskatchewan-based junior exploration company. GWMG is engaged in the acquisition, exploration, and development of rare earth mineral properties in North America.
Message: A quick C$500,000 via Pathway (these guys are chosey)
| December 9, 2008 |
| Great Western Minerals Announces Private Placement With MineralFields |
| SASKATOON, SASKATCHEWAN--(Marketwire - Dec. 9, 2008) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE DISTRIBUTION SERVICES Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) ("GWMG" or the "Company") is pleased to announce a non-brokered private placement financing of up to 8,333,333 Units at a price of $0.06 per unit, for total proceeds of up to C$500,000 subject to regulatory approval. Each Unit consists of one flow-through common share of the Company plus one-half share purchase warrant. Each full share purchase warrant will be exercisable into one non-flow-through common share of the Company, at a price of C$0.20 per share. The shares issued under this private placement will be subject to a four month hold period under applicable Canadian securities legislation. The Company plans to use the proceeds for exploration and development of its Canadian properties. The flow-through expenses will constitute Canadian Exploration Expenses (as defined in the Income Tax Act) and such expenses will be renounced for the 2008 taxation year. This placement is expected to close on or about December 15, 2008, or sooner at the discretion of the Company. About MineralFields, Pathway and First Canadian Securities (R) MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R). About Great Western Minerals Group Ltd. Great Western Minerals Group Ltd. is a Canadian-based company exploring for, and developing, strategic metal resources in North America. Pursuing a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements. |
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