GWR Closes $500,000 Private Placement
VERNON, BRITISH COLUMBIA — GWR Resources Inc. (TSX Venture: GWQ) is pleased to announce that it has closed its non-brokered private placement (last announced on April 19, 2011) for gross process of $500,000 and has issued 1,351,351 units at a price of $0.37 units at a price of $0.37 per unit. Each unit consists of one common share plus one warrant entitling the investor to purchase one additional common share for a period of 24 months at a price of $0.45 per share for the first year and at a price of $0.60 for the second year . The applicable hold period expires at midnight on October 22, 2011.
The proceeds of this private placement will be used for ongoing exploration on the Company’s Lac La Hache property in British Columbia and for general working capital.
Two insiders participated in the private placement for a collective investment of $60,650.
For further information , please contact:
Responsible officer: Lars Glimhagen, Chief Financial Officer
Company Telephone Number: 250 542 8797
Neither 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.