CWY Conway Resources Inc.

Conway Resources Inc. ("Conway" or the "Company") (TSX VENTURE:CWY) is pleased
to announce that it has completed a first $175,000 tranche of its private
placement announced on July 7, 2010 (the "Private Placement"). In consideration,
the Company has issued 1,714,286 flow-through common shares for $120,000,
1,100,000 common shares for $55,000 and 2,814,286 share purchase warrants. Each
warrant entitles its holder to subscribe for one additional common share of the
Company at a price of $0.10 per share for a 12-month period following the
closing date of the Private Placement.


The Company will use the proceeds from the private placement of flow-through
shares towards the exploration of its properties in Quebec and for the
finalization of the Conway and Paquin veins bulk sampling. The net proceeds from
the private placement of common shares will be used for working capital
purposes.


The shares issued and the underlying shares to be issued pursuant to the
exercise of the warrants under the Private Placement are subject to a restricted
period on resale of four months and one day.


This Private Placement is subject to regulatory approval.

Forward-Looking Statements

This press release contains certain forward-looking statements that might
involve uncertainty, time frames, and/or known and unknown risks beyond the
Company's control. The Company's actual results, performance and achievements
may differ materially from the results, performance and achievements implied by
such forward-looking statements. Factors that could cause actual results to
differ from those implied by forward-looking statements include, in particular,
changes in the market gold price, the value of the Canadian dollar or the grade
of the ore mined and unanticipated difficulties in mining activities that could
have an impact on operating revenues and costs, as well as uncertainty regarding
government regulations.

Conway Resources Inc. (TSXV:CWY)
Historical Stock Chart
From Jun 2024 to Jul 2024

Conway Resources Inc. (TSXV:CWY)
Historical Stock Chart
From Jul 2023 to Jul 2024