QUEBEC, Oct. 11, 2013 /CNW Telbec/ - Conway Resources
Inc. ("Conway" or the "Society") (TSXV: CWY) announces that
it completed on june,17th 2013 a private placement of loan in
the amount of $ 500,000 with term on
June 17th, 2015, and carries an
annual interest rate of payable 11% monthly. This loan will be
secured by mining concessions CM-315 and CM-395. This loan is not
convertible. The lender with compromised without link of dependence
with the Society. This loan includes a bonus of subscription of 10%
of the financing. The lender received as bonus of subscription
1,000,000 of shares with retention of 4 months.
The loan net proceeds will be used for working capital of the
Company.
Mr. Laurent Beaudoin, President
and Chief Executive Officer of Conway, said: "The purpose of this loan is to
stop the dilution of the Company and to continue the business plan
undertaken by the Company".
The issuance of this loan is subject to the approval of the
relevant regulatory authorities.
About Conway Resources Inc.
Conway is a
mining exploration corporation that owns four gold properties and
one rare metals property in Quebec. Its main asset is the Belleterre Mine
property. The property is the site of the old Belleterre mine, which produced over 800,000
ounces of gold between 1936 and 1959. A total of 2.18 million
tonnes of ore at an average grade of 10.73 g/t Au were extracted
from the mine, primarily from vein 12 (95% of production). Earlier
reports indicate the presence of at least 21 veins on the
property.
More information can be found on Conway's website at
www.ressources-conway.com.
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 Corporation's
control. The Corporation's actual results, performance and
achievements may differ materially from the results, performance
and achievements implied by such forward-looking statements.
Neither the TSX Venture Exchange Inc. nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange Inc.) accepts responsibility
for the adequacy or accuracy of this press release.
SOURCE Conway Resources Inc.