laut den letzten news im otcbb ist am 3.3.06 D-DAY.
seh ich das richtig ?????
Great West Gold, Inc. (OTCBB:GWGO) announced an February 16, 2006 that it will be making a series of acquisitions. The Company placed another tranche of its restricted shares for cash in and during this week in the amount of US$1,000,000 to assist in the funding of these acquisitions. No Registration Statement will be filed for these share issued for cash.
The first three acquisitions have now been agreed and are being finalised and all of the pertinent details will be announced to the market on Friday March 3, 2006. These acquisitions are of enormous value to the Company and will dramatically increase the Net Asset Value per share.
Due to the size of these acquisitions, they are to be funded through a small issue of restricted shares (and no Registration Statement will be filed for these share issued), the issue of a Convertible Loan Note and a guarantee in the amount of US$10,000,000 issued for and on behalf of the Company by St James Capital Holdings, Inc. Certain other unrelated parties have undertaken to issue guarantees and to participate in a further placing of shares for cash to fund these acquisitions on Friday March 3, 2006 (no Registration Statements will be filed for these shares issued and these shares will remain as restricted under Regulation 144). These transactions are being structured in such a manner so as to avoid dilution of shareholder value.
Shareholders will be advised as to the full details of these acquisitions on Friday March 3, 2006 a Form 8-K will be filed in and during next week.
The Company confirms that it is not planning a "Reverse Split" of its Common Stock.
The Company web site is being updated at this time to accurately reflect the position of the Company and its restructuring. The Company apologises to its shareholders for this delay.
St James Capital Holdings, Inc. which holds a Loan Note in the amount from the Company in the amount of US$1,750,000 has confirmed that it does not intend to convert this Loan Note into restricted Common Stock at this time and when it does so decide to convert this Loan Note into restricted shares of the Company's Common Stock, it will not request and the Company will not file a Registration Statement for these restricted shares of the Company's Stock issued in settlement thereof. St James Capital Holdings, Inc. has provided an additional guarantee to the Company in the amount of US$10,000,000 to assist in the funding of these acquisitions.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's
expectations and are subject to a number of risks and uncertainties beyond the company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.
Great West Gold, Inc.
Tel: +44 845 127 4051
investor@greatwestgold.com
Source: Business Wire (March 1, 2006 - 9:18 AM EST)
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