Aurwest Resources Announces Closing Of Shares For Debt Settlement
Calgary - Aurwest Resources Corp. ("Aurwest" or the "Company") (CSE: AWR) is pleased to announce that the Company has completed a shares-for-debt settlement with an arm's length creditor, ARCO Resources Ltd., by issuing an aggregate of 1,732,500 common shares of the Company (the "Shares") at a deemed price of $0.02 per Share in full settlement of an aggregate amount of $34,650 of outstanding indebtedness (the "Debt Settlement"), in accordance with the policies of the Canadian Securities Exchange (the "CSE"). The Company has completed the Debt Settlement to improve its financial position by reducing its existing liabilities. All Debt Settlement shares will be subject to a four month and one day hold period from the date of issuance pursuant to applicable Canadian securities law.
On Behalf Of Aurwest resources Corporation
"Cameron MacDonald"
Interim President and Chief Executive Officer
For Additional Information Please Contact
Cameron MacDonald
Telephone: (403) 585-9875
Email: cmacdonald@aurwestresources.com
Website: www.aurwestresources.com
About Aurwest Resources Corporation
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada.
Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation: the Debt Settlement, certain customary approvals for the Debt Settlement, and certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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