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Great West Gold, Inc. - Funding Secured 9/16/2005 7:00:31 AM Company Confirms That It Has Secured Additional Funding
NEW YORK, Sept 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Great West Gold, Inc. ( GWGO ) has secured additional and sufficient funding from various thirds parties as were required by the Company to meet its obligations to create the new two 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 fulfil its promises to its shareholders in respect of the promised restructuring of the Company to "unlock" significant value for its shareholders.
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. 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.
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saw it at .0006 on Wed when they put out another news! Its been such a junk stock that I didn't bring it to the board! That wall at .001 is huge but if it comes down this stock is gonna move real fast!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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The place to buy this is @.001 but not unless they get it down to 2-3 MMs then it should break out higher! Otherwise this is donna retrace back to .0006x.0007 later today! Should be interesting to see which way they take it!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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posted
why do these people insist on selling at .001 the stock is moving... smart people would pull thier ask to not show such a huge wall... it just scares everone off and prevents them from selling at .001 anyway.... sheesh.... no one knows how to build momentum
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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>the top of the L2 above .001 tells me its done! >It jumps from .0011 all the way to .0025 which >tells me even the MMs are saying its done @.001
what does "its done" mean?
Posts: 647 | Registered: Jul 2005
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I got in at .0009 for 1 mill shares. At first the .0009 was all you saw on the L2's then the .001 now you start to see things after it. I think at this rate it will break it within the next hour
Posts: 647 | Registered: Jul 2005
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posted
some one needs to step up to the plate... with their balls.... and buy at .001 only .0001 away of a 10% gain at .0011
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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>the top of the L2 above .001 tells me its done! >It jumps from .0011 all the way to .0025 which >tells me even the MMs are saying its done @.001
what does "its done" mean?
It means I wouldn't buy it @.001 unless there are only 2-3 MMs left at that ask! Then it could break out higher, but we are talking huge risk up here at a 66% gain already today!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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rickpic: Ah okay. I mean, I am watching it right now and the L2's just show the .001 falling. There are MM's sitting at .0011. Just need a couple of big buys
Posts: 647 | Registered: Jul 2005
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posted
.0009 is solid now for the day a lot of buying there.... not much at .001 it just kinda blew through it
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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