This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:GWR Resources closes $331,113 private placement 2009-09-11 11:16 ET - News Release Mr. Harley Sinclair reports GWR CLOSES PRIVATE PLACEMENT AND UPDATES ACQUISITION GWR Resources Inc. has closed its hard-dollar private placement (last announced
in Stockwatch on Aug. 19, 2009) for gross proceeds of $331,113 and has issued 2,207,422 units at a
price of 15 cents per unit. Each unit consists of one common share plus one warrant. The
applicable hold periods expire at midnight on Jan. 3, 2010.
The proceeds of this private placement were largely raised for the company's 2009 drill
program on the company's property near Lac La Hache, B.C.
Two insiders participated in the private placement for a collective investment of $19,800.
Further to the company's news release in Stockwatch on June 17, 2009, the company is proceeding with the acquisition of Deep Creek Oil & Gas Inc. The first milestone was formal approval of Deep Creek's proposal by its
creditors and also by the court. The second milestone was completion of a $613,500
private placement. The third milestone was completion of the planned sale of certain oil
and gas properties, and the corresponding reduction in Deep Creek's secured
indebtedness.
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