Consolidated Gold Win Ventures Inc.

Consolidated Gold Win Ventures Inc.

December 22, 2006 03:05 ET

First Tranche of One Million Dollar Financing Completed by CGW President

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 22, 2006) - 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 first tranche of 694,444 units at a recent 5 trading day average ending Dec 21 of 18 cents per share 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 recently stated, "I plan this ongoing market-priced investment in Consolidated Gold Win Ventures to ensure the company remains adequately financed while pursuing its drilling and exploration programs for gold, copper and other minerals on its 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.

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