WARWICK COMMUNICATIONS INC., SIGNS LETTER OF INTENT WITH GLOBAL by xpj11142

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									     WARWICK COMMUNICATIONS INC., SIGNS LETTER OF INTENT WITH
       GLOBAL RESOURCE CORP. FOR EXCLUSIVE CANADIAN LICENSE

  Warwick to issue up to Two Million Units for License of Global Resource
 Corp.’s Microwave Technology for Extracting Hydrocarbons from Oil Shale,
                Tar Sands and Waste Resources in Canada

Warwick Communications, (WARK:CNG) (“Warwick”), Calgary, AB, announced today that it
has signed a letter of intent with Global Resource Corp. (OTC: GBRC.PK), of WEST BERLIN,
N.J. (“GBRC”), a developer of a patent-pending microwave technology and machinery for
extracting oil and gas, The letter of intent sets forth the terms for an exclusive twenty-year
license for Warwick to use or sublicense GBRC’s revolutionary microwave machinery to recover
energy from oil, gas, mining and waste resources in Canada. The transaction under the letter
of intent is subject to applicable regulatory and shareholder approvals.

Under the terms of the letter of intent, approved by the Boards of both companies yesterday,
Warwick will issue to GBRC, as consideration for the license, two million units (“Unit”) at a
deemed price of $0.50 per Unit. Each Unit is comprised of one Common Share, one half (0.5)
“A” Warrant and three quarters (0.75) of a “B” Warrant. Each whole “A” Warrant shall entitle
GBRC to purchase one common share of Warwick at $0.50 per share, and each whole “B”
Warrant entitles GBRC to purchase one common share of Warwick at a price of $1.00 per
share. Both “A” and “B” Warrants shall have a term of two years from date of issue. The
Units will be issued in two 1 milion Unit tranches, the first tranche of 1 million to be issued on
the parties reaching a definitive agreement and the second tranche of 1 million to be issued on
certain milestones being achieved. Warwick will also covenant to purchase a minimum of one
microwave machine each year for the next five years. This purchase commitment will total
$25,000,000.00 in aggregate or $5,000,000.00 per year.

Chairman Frank Pringle of Global Resource Corp. said, “This licensing agreement will enable us
to get Global Resource Corp.’s extraordinary technology working to produce energy in Canada
right away. Warwick CEO, President and CFO Jeremy P. White and his management team are
experienced in oil & gas exploration, mining and waste management. Additionally, they have
access to Canadian government grant financing for new up-grading technologies. Therefore
they are ideal partners to launch our microwave technology in Canada.”

White said, “Global Resource’s ‘hydrocarbon extraction’ microwave technology, invented by
Frank Pringle, will be one of the most significant small-scale upgrading technologies introduced
in Canada for upgrading its diverse wealth of natural resources in: oil sands, heavy oil, shale
oil, coal and its abundance of hydrocarbon waste steams such as: tires, plastic and organic
municipal waste. Warwick is pleased to be part of this exciting development opportunity for
Canada.”

The Corporation is pleased to announce that Mr. James C. Speight has accepted a position as
a member of the Board. The Corporation has also accepted the resignations of Mr. Nick Pitt
and Mr. Wayne Lenhardt as directors of the Corporation. Mr. Jules Roy has also been
appointed as the Executive Vice President of the Corporation.

White is currently CEO of AAA Power, Inc., Calgary, a venture company focused on new
technology start ups. He has many years of experience in oil refining, exploration and
development as well as mining operations in Canada/

James C. Speight, has headed his own consulting firm, CD&W, Laramie, WY, since 1998. An
eminent consultant, author and lecturer on energy, from 1990 to 1998, he was chief executive
officer of the Western Research Institute, Laramie, WY, with which he has been associated
since 1984.

Jules Roy has 15 years business experience in financing new company start-ups, investment,
management, administration and real-estate development with extensive experience in the
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environmental and recycling industry as well as the steel industry. He sits on the boards of
two Toronto Stock Exchange companies as well as several non listed private companies.

The agreement also specifies that Warwick has a first right of refusal to negotiate for Brazil,
Morocco, Panama, Trinidad & Tobago and China. In addition, the agreement grants Warwick
exclusive first right to purchase an exclusive Canadian license rights to any new technologies
Global Resource Corp. develops. A member of the Global Resource Corp., board of directors
will join Warwick’s board upon the successful conclusion of the agreement.

About Global Resource Corp.
Global Resource Corp., (OTC: GBRC.PK), is a developer of a patent-pending microwave technology and
machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells,
bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors
and river bottoms. Its process produces significantly greater yields and lower costs than are available
using existing technologies. Because the process takes place in an enclosed environment it is emission-
free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For
more information see: www.globalresourcecorp.com

Forward-Looking Statements
This news release contains forward-looking statements regarding Warwick Communications Inc.’s business
strategies and future plans of operations. Forward- looking statements involve known and unknown risks
and uncertainties. The forward-looking statements contained in this news release speak only as of the
date hereof and Warwick Communications Inc. disclaims any obligation to provide public updates,
revisions or amendments to any forward-looking statements made herein to reflect changes in Warwick’s
expectations or future events.




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