Great Western Minerals Group Ltd.

Great Western Minerals Group Ltd.

January 27, 2010 07:00 ET

Great Western Minerals Group Retains Investor Relations Firm

SASKATOON, SASKATCHEWAN--(Marketwire - Jan. 27, 2010) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) announced today that it has entered into an investor relations agreement with Stone Communication Services Limited ("SCS") of Toronto, Ontario (the "Agreement"). 

SCS specializes in the execution of tailored, strategic communication programmes for emerging companies and will introduce GWMG to Stone Communications' network of brokers, analysts and portfolio managers. SCS is a wholly owned subsidiary of Stone Investment Group.

The Agreement has an initial terms of one year, pursuant to which SCS will provide investor relations services to GWMG including the development of investor relations strategies relating to advertising programs and investor awareness and fostering broker and analyst interest in the Company's activities. As compensation for its services, SCS will receive a retainer fee of $3,500 per month, reimbursement for related expenses and an aggregate of 600,000 options to purchase common shares in the capital of GWMG pursuant to the terms of GWMG's stock option plan (the "Options"). 150,000 Options will vest immediately and an additional 150,000 Options will vest every three months thereafter with an exercise price of $0.35, $0.40, $0.65 and $0.80 respectively.

Jim Engdahl, President and CEO of Great Western Minerals Group said, "We are very pleased to have Stone Communications working with us to increase the exposure of Great Western Minerals Group throughout the investment community, particularly in Eastern Canada." Engdahl adds, "Stone has been following us for some time, so they are very familiar with our company, our operations and particularly our unique mine-to-market strategy, and quite capable of presenting our story to existing and prospective investors."

About Great Western Minerals Group Ltd.

Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company's strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.

Certain information set out in this News Release constitutes forward-looking information, which may include information relating to estimates of sales and revenue of GWMG. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Great Western Minerals Group Ltd.
    Ron Malashewski
    Manager of Investor Relations
    (306) 659-4500
    Great Western Minerals Group Ltd.
    226 Cardinal Crescent
    Saskatoon, SK
    S7L 6H8
    Stone Communication Services Limited
    Jason Stone
    Investor Relations
    (800) 336-9528