- NorthWest Copper Corp. (NWST) has closed its non-brokered private placement financing
- The company sold a total of 21,997,086 units for gross proceeds of $5,059,330
- Net proceeds will be used primarily to provide general working capital
- NorthWest Copper Corp. is a new copper-gold explorer and developer with a pipeline of projects in British Columbia
- Northwest Copper Corp. opened trading at $0.235 per share
NorthWest Copper Corp. (NWST) has closed its non-brokered private placement financing for gross proceeds of $5,059,330.
Under the previously announced over-subscribed offering, NorthWest Copper issued 22,173,913 units at a price of $0.23 per unit.
Under the first tranche, the company issued 8,837,955 units for gross proceeds of $4,332,730. The second and final tranche consisted of 3,159,131 units for gross proceeds of $726,600.
Each unit consists of one common share of the company and one-half of one non-transferable common share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.30.
Net proceeds will be used primarily to fund general working capital and for exploration of the company’s portfolio of projects, including the Lorraine property.
Mark O’Dea, Lewis Lawrick and Teodora Dechev, each a director of the company, acquired a total of 740,000 units for gross proceeds of $170,200.
NorthWest Copper Corp. is a new copper-gold explorer and developer with a pipeline of projects in British Columbia.
Northwest Copper Corp. opened trading at $0.235 per share.