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GREAT WESTERN MINERALS GROUP WARRANTS EXERCISED
GREAT WESTERN MINERALS GROUP WARRANTS EXERCISED.
About this update from Great Western Minerals Group Ltd
[{"type":"text","content":"GREAT WESTERN MINERALS GROUP LTD. NEWS RELEASE TSX Venture Symbol: GWG CUSIP: 39141Y 10 3OTCQX: GWMGF GREAT WESTERN MINERALS GROUP WARRANTS EXERCISED March 1, 2011 - Saskatoon, Canada: Great Western Minerals Group Ltd. (“GWMG” or the “Company”, TSX:V – GWG) announces the number of Common Share purchase warrants (the “Warrants”) of GMWG recently exercised. During the timeframe from January 1, 2011 to February 28, 2011, a total of 17,909,217 GWMG Warrants were exercised. In the process, GWMG received $7,936,247 from their exercise at an average of $0.44 per Warrant. GWMG also advises that 63,584,400 Warrants remain outstanding with an aggregate exercise value of $27,098,725 at an average of $0.44 per Warrant. The GWMG share price is, as at today, in excess of the exercise price of each of the outstanding Warrants. Jim Engdahl, President and Chief Executive Officer said, “The pace of GWMG Warrants being exercised by shareholders is an indication of their positive view toward Great Western Minerals Group and its intention to become a fully integrated Rare Earths producer. The inflow of approximately $8 Million in the past two months as a result of Warrants being exercised enables our Company to remain focused on our goal of bringing the formerly producing Steenkampskraal site into production” Jim EngdahlPresident and CEO Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in Sou...