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GBRC.pk ($3.30) Warwick Communications Inc. Re-Signs Letter of Intent with Global Resource Corp. for Exclusive Canadian License and Signs a Letter of Intent with Cable Net Inc. for Exclusive Canadian Sub-License
Friday, April 25 2008 - 4:46

GBRC $3.30 $-0.29 (%-8.08)

M2 PressWIRE - April 25, 2008 - Calgary, Alberta CANADA -- Warwick Communications Inc. (WARK - CNQ), ("Warwick"), announced today that it has re-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 to use 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 entitles 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. 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 GBRC 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."



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.

The letter of intent also specifies that Warwick has a first right of refusal to negotiate for exclusive licensing rights in Brazil, Venezuela, Morocco, Panama, Trinidad & Tobago and Mexico. A member of the GBRC's board of directors will join Warwick's board upon the successful conclusion of the definitive agreement.

Warwick to receive one and half million shares from CABLE NET INC. for Sub-License of Global Resource Corp.'s Microwave Technology for Extracting Hydrocarbons from Oil Shale, Tar Sands and Waste Resources in Canada.

Warwick Communications Inc., (WARK:CNG) ("Warwick"), Calgary, AB, announced today that it has signed a letter of intent with CABLE NET INC. of 7171 E Cavecreek Road, Carefree AZ 85377, a public shell venture capital company. The letter of intent sets forth the terms for an exclusive twenty-year sub-license to use Global Resource Corp.'s ("GBRC") revolutionary microwave machinery to recover energy from oil, gas, mining and waste resources in Canada. The agreement also specifies that Cable Net Inc. has a first right of refusal to negotiate for the sub-license rights for the territory of Venezuela for a period of time expiring on December 1, 2008. Under the terms of the sub-license agreement CABLE NET INC. agrees to assume Warwick's minimum plant purchase order requirement from GBRC over the next five years. CABLE NET INC. agrees to initially purchase one 5 TON PER HOUR microwave plant through Warwick from GBRC for delivery within eight months after issue of the purchase order from CABLE NET INC., such purchase order to be issued no later than May 30, 2008. CABLE NET INC. also agreed to follow up with one plant purchase every year with aggregate purchase orders over $25 million for the first five years. CABLE NET INC. agrees to pay Warwick an upfront licensing fee of $50,000 upon Warwick entering into the official license agreement with GBRC. CABLE NET INC. agrees to pay Warwick a 10% fee based upon the actual cost of each plant for the first ten plants ordered by CABLE NET INC. through Warwick from GBRC and thereafter 3% of the purchase price of each plant for the 20 year term of the sub-license agreement. CABLE NET INC. agrees to pay Warwick 20% of any throughput, processing or royalty fee that CABLE NET INC. may charge its clients. The transaction under the letter of intent is subject to applicable regulatory and shareholder approvals.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy White - President, CEO and CFO Telephone: [phone] Email: [e-mail]

((Comments on this story may be sent to [e-mail]))

© 2008 M2 COMMUNICATIONS LTD

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