|December 30, 2011|
GWR Grants Options and Announces Consulting Agreement
|LAC LA HACHE, BRITISH COLUMBIA, December 30, 2011 -- GWR Resources Inc. (TSX-V: GWQ) (the "Company") is pleased to announce the grant of 2,325,000 incentive stock options under its incentive stock option plan to certain directors, officers and employees pursuant to stock option agreements dated December 28, 2011. The options are exercisable at $0.25 for a period of five years from the date of grant.|
The Company also announces that it has entered into a consulting agreement dated July 1, 2011, as amended on December 28, 2011, (the "Consulting Agreement") with John van Driesum, the President and CEO of the Company, and with EMC Holdings Ltd., a company owned by Mr. van Driesum,. The term of the Agreement is 37 months, expiring August 1, 2014. Under the Consulting Agreement, the Company will pay consulting fees of $120,000 for the first year and Mr. van Driesum was granted 1,850,000 incentive stock options, exercisable at a price of $0.25 per share for a period of five years. The incentive stock options granted to Mr. van Driesum are subject to additional restrictions on exercise, as set out in the Consulting Agreement.
The Consulting Agreement and the grant of incentive stock options thereunder is subject to TSX Venture Exchange approval.
For further information, contact:
Responsible officer: Lars Glimhagen, Chief Financial Officer
Company Telephone Number: 250 542 8797
Neither the 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.
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