09:40 AM EST - Conway Resources Inc. : announced that it has amended the agreement for the acquisition of all the outstanding shares of Ressources Mine Belleterre Inc. or "RMB", which owns a 100% exclusive interest in the Belleterre Mine property, to postpone the closing date of the transaction until November 30, 2009. If the Company is unable to obtain the necessary funds to complete the transaction before that date, it has until March 31, 2010, to complete a financing by way of prospectus or offering memorandum to finalize the transaction.As per terms of amended agreement, Conway will issue 8.48 million common shares at a deemed price of $0.05 per share, each accompanied by half a warrant to purchase one common share at $0.15 for a two-year period after closing, for a total of 4.24 million warrants. Conway will issue 1.70 million additional common shares on closing of the transaction or at the latest on November 30, 2009. These shares represent compensation for the extension obtained from the vendors. Conway assumes responsibility for RMB's $120,000 in accounts payable as of May 31, 2009. Conway will make cash payments of $150,000 in the second year and $250,000 in the third year. Conway Resources Inc.
shares V.CWY are trading even at $0.06.
