Consolidated Gold Win Ventures Inc.

Consolidated Gold Win Ventures Inc.

May 03, 2007 18:48 ET

4th and 5th Tranches of One Million Dollar Financing Completed by CGW President

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2007) - CONSOLIDATED GOLD WIN VENTURES INC. (TSX VENTURE:CGW)(PINK SHEETS:CGWVF)(FRANKFURT:OUH) reports that further to the previous announcement made on Dec 14, 2006 by Mr. Souhail 'Abby' Abi-Farrage, President and CEO of the Company confirming his intention to enter into a Private Placement Subscription Agreement with the Company (the "Agreement"), he has now completed the 4th and 5th tranches at $0.15 per share for a total of C$250,000 in a financing where under he has subscribed for a placement of common shares of the Company for an aggregate C$1,000,000.

Under the Agreement, Mr. Farrage has agreed to subscribe to eight (8) bimonthly tranches of C$125,000 each, commencing December 15th, 2006.

Mr. Farrage stated, "This ongoing market-priced investment in Consolidated Gold Win Ventures is to ensure the company remains adequately financed while engaged in drilling and exploration programs for gold, copper and other minerals on the Dolly Varden property in Elko County, Nevada and CGW's other properties."

The units shall comprise 1 common share and 1 share purchase warrant for the purchase of 1 further share exercisable at the price of $0.20 per share having a term of 2 years from the date of issuance. The placement common shares and warrants will be subject to certain mandated hold periods and resale restrictions and the certificates representing such Shares will be legended accordingly.

Each of these bimonthly tranches will be subject to regulatory approval.

The company is also pleased to announce it has completed phase one of its currently slated two phase drill program begun at the Dolly Varden property. Assays results will be released when available in conjunction with an analysis of the exploration program to date.

About Consolidated Gold Win Ventures

CGW is a progressive and rapidly advancing junior exploration company with interests in Nevada - South Dolly Varden Gold Copper claims, British Columbia - Yeti Gold claims, North West Territories - Drybones Diamond properties, Quebec - Raglan Platinum Group Metal claims.

We seek safe Harbor.

Contact Information

  • Consolidated Gold Win Ventures Inc.
    Shareholder Relations
    (778) 994-6453
    Consolidated Gold Win Ventures Inc.
    Abby Farrage
    (604) 671-4718
    Consolidated Gold Win Ventures Inc.
    Souhail 'Abby' Abi-Farrage
    President and Director
    (604) 671-4718