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[QUOTE]Originally posted by WinsumLosesum: [QB] Great West Gold, Inc. - Placing of Shares for Cash PR Newswire - September 19, 2005 10:43 Company Confirms That It Has Placed Shares for Cash NEW YORK, Sept 19, 2005 /PRNewswire-FirstCall via COMTEX/ -- Great West Gold, Inc. (OTC Bulletin Board: GWGO) announced on September 16, 2005 that the Company had secured additional and sufficient funding from various third parties as were required by the Company to meet its obligations to create the two new OTC Mining Companies, the shares of those new Companies to be distributed to the Company's shareholders. The Company now has sufficient funding in order to consummate all of its planned acquisitions and to fulfill its promises to its shareholders in respect to the promised restructuring of the Company to "unlock" significant value for its shareholders. ADDITIONAL AND FURTHER FUNDING: The Company has today placed an amount of restricted shares of its Common Stock for cash in an initial amount of US$200,000, to an Investment Group. This Investment Group has the option until November 30, 2005 to acquire a further amount of the Company's restricted shares of Common Stock and up to an additional amount of US$800,000. The Company will not be filing a Registration Statement for these share issues and the Investment Group will hold these shares as restricted under Regulation 144. This funding allows the Company to immediately consummate the acquisitions as previously announced. This funding is unsecured, interest free with no fixed terms of repayment. The third parties who advanced this funding may at a later date agree to convert these loans into restricted shares of the Company's Common Stock. UNSECURED LOAN NOTE: St James Capital Holdings, Inc. which holds a Loan Note from the Company in the amount of US$1,500,000 is assisting in these transactions and has agreed not to demand a conversion of this Loan into restricted shares of the Company's Common Stock at this time. UNSECURED ADDITIONAL LOAN: The Company is indebted to Sloane Holdings Limited ("Sloane"). Sloane has agreed that this funding to the Company is unsecured, interest free with no fixed terms of repayment. Sloane may at a later date agree to convert these loans into restricted shares of the Company's Common Stock. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. About Great West Gold, Inc. Great West Gold, Inc. (www.greatwestgold.com) is a gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in Arizona. [/QB][/QUOTE]
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