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     746  0 Kommentare Great Western Minerals Provides Update Regarding Filing of Reporting Documents

    SASKATOON, SK--(Marketwired - Apr 14, 2015) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE: GWG) (OTCQX: GWMGF) provides this bi-weekly update in accordance with National Policy 12-203 -- Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").

    On March 30, 2015, the Company announced (the "Default Announcement") that, for the reasons disclosed in the Default Announcement, it would be unable to file its audited annual financial statements for the year ended December 31, 2014 (the "Financial Statements"), its management's discussion and analysis on the Financial Statements and the CEO and CFO certificates in respect of the Financial Statements (collectively, the "Reporting Documents") by March 31, 2015. The Company was able to and did file its annual information form for the year ended December 31, 2014.

    As a result of the delay in filing the Reporting Documents, the Company's principal regulator, the Financial and Consumer Affairs Authority of Saskatchewan, issued a management cease trade order ("MCTO") on April 2, 2015, which restricts all trading in securities of the Company, whether direct or indirect, by the Company's Chief Executive Officer and Chief Financial Officer.

    The previously disclosed discussions between the Company and a steering committee of holders (the "Steering Committee") of the US$90 million 8.00 percent Secured Convertible Bonds due 2017 (the "Convertible Bonds") regarding a potential restructuring of the Convertible Bonds to date have not resulted in the Company and the Steering Committee entering into a binding agreement. The Company continues to explore strategic alternatives to a consensual restructuring of the Convertible Bonds, which may include the initiation of a sale or investment solicitation process in respect of the Company's assets and business and/or the commencement of proceedings under applicable restructuring legislation. There is no assurance that the Company will be able to restructure the Convertible Bonds or find an alternative to such restructuring.

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    Great Western Minerals Provides Update Regarding Filing of Reporting Documents SASKATOON, SK--(Marketwired - Apr 14, 2015) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE: GWG) (OTCQX: GWMGF) provides this bi-weekly update in accordance with National Policy 12-203 -- Cease Trade Orders for Continuous …