Conway Resources Inc.

Conway Resources Inc.

April 01, 2010 17:00 ET

Conway Resources Announces $500,000 Private Placement

QUEBEC CITY, QUEBEC--(Marketwire - April 1, 2010) - Conway Resources Inc. ("Conway" or the "Company") (TSX VENTURE:CWY) is pleased to announce that it is negotiating a private placement for a maximum of 10,000,000 units, for a maximum amount of $500,000 (the "Private placement"). Each unit consists of one common share of Conway at a price of $0.05 per share and one share purchase warrant. Each warrant will entitle its holder to subscribe for one additional common share of the Company at a price of $0.10 for a 24-month period following the closing date of the Private placement.

The Private placement will be the object of a Finder's fee for an amount corresponding to 10% of the total Private placement. The net proceeds from this Private placement will be used for working capital purposes. The shares issued and the underlying shares to be issued pursuant to the exercise of the warrants under the Private placement will be subject to a restricted period on resale of four months and one day.

This Private placement is subject to regulatory approval.

Neither 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.

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