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Great West Gold, Inc. - Acquisitions
NEW YORK--(BUSINESS WIRE)--Feb. 16, 2006--
Great West Gold, Inc. (OTCBB: GWGO) confirms that it will be acquiring a series of companies through the issue of restricted shares of the Company's Common Stock and through certain small cash payments. The Company is expecting to place another tranche of its restricted shares for cash in and during next week. No Registration Statement will be filed for these share issues for cash or for the acquisitions.
These acquisitions will be of considerable value to the Company and will dramatically increase the Net Asset Value per share.
Shareholders will be advised as to the full details of these acquisitions in and during and a Form 8-K will be filed.
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.
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.
Source: Great West Gold, Inc.
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