- NorthWest Copper Corp. (NWST) has closed the first tranche of its non-brokered private placement
- Under the first tranche, the company issued 18,837,955 units for gross proceeds of $4,332,730
- Proceeds will be used to fund general working capital purposes and exploration of the company’s portfolio of projects
- NorthWest Copper is a new copper-gold explorer and developer with projects in B.C.
- Northwest Copper Corp. (NWST) opened trading at C$0.24
NorthWest Copper Corp. (NWST) has closed the first tranche of its over-subscribed non-brokered private placement.
Under the first tranche, the company issued 18,837,955 units at a price of $0.23 per unit for gross proceeds of $4,332,730.
Each unit consists of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant is exercisable to purchase one additional common share for a period of 2 years at a price of $0.30.
Company director Richard Bailes acquired 250,000 units in this tranche, for gross proceeds of $57,500, constituting a “related party transaction”.
Proceeds will be used to fund general working capital purposes and exploration of the company’s portfolio of projects, including the Lorraine property.
All securities issued are subject to an acceleration clause.
NorthWest Copper is a new copper-gold explorer and developer with a pipeline of projects in British Columbia.
Northwest Copper Corp. (NWST) opened trading at C$0.24.