NorthWest Copper Expands Private Placement Financing Opportunity
NorthWest Copper Expands Private Placement Financing
NorthWest Copper Corp. (“NorthWest” or “the Company”) (TSX-V: NWST) has announced an expansion of its previously stated non-brokered private placement financing. The increase follows heightened demand for the offering. The revised placement now includes up to 4,600,000 units available at a price of $0.25 per unit, potentially generating gross proceeds of up to $1,150,000.
Details of the Private Placement
Each unit in the private placement comprises one common share and one non-transferable common share purchase warrant. The warrants provide the option to purchase an additional common share for a two-year period from the closing date, with an exercise price set at $0.30. This financing presents a significant opportunity for investors looking to engage with NorthWest Copper as it positions itself for future growth in the copper market.
Use of Proceeds
The proceeds generated from this private placement are intended primarily for general working capital purposes. This strategic move positions NorthWest Copper to reinforce its operational foundation, enabling further exploration and development of its projects while capitalizing on favorable market conditions.
Insider Participation and Regulatory Approval
It is anticipated that some insiders of NorthWest Copper will participate in this funding round. This involvement qualifies as a “related party transaction,” in accordance with Multilateral Instrument 61-101, which aims to protect minority shareholders in special transactions. The company plans to rely on exemptions from formal valuation and minority shareholder approval requirements due to the related party participation not exceeding 25% of the Company’s market capitalization.
The completion of the private placement is subject to approval from the TSX Venture Exchange. All common shares and warrants issued through this offering will be subjected to a hold period of four months plus one day, ensuring compliance with applicable regulations.
About NorthWest Copper
NorthWest Copper is a dedicated copper-gold explorer with an impressive portfolio of advanced and early-stage projects in a prominent jurisdiction. The company focuses on notable projects such as Kwanika-Stardust, Lorraine, and East Niv. Positioned strategically, NorthWest Copper is poised to take full advantage of the growing global demand for copper.
The company is committed to responsible mineral exploration practices, collaborating closely with First Nations to incorporate traditional land use and stewardship best practices in its future developments. The company’s strong ethical foundation is paramount in fostering positive relationships as it moves forward with its exploration initiatives.
Company Leadership and Contact Information
Maryantonett Flumian currently chairs the board of directors of NorthWest Copper Corp. Under her leadership, the company continues to strive towards sustainable practices and growth within the mineral exploration sector.
For further inquiries, the company can be contacted via telephone at 604-683-7790 or through email at info@northwestcopper.ca.
Frequently Asked Questions
What is NorthWest Copper's recent financing initiative?
NorthWest Copper has announced an upsized non-brokered private placement financing of up to 4,600,000 units at a price of $0.25 per unit.
How will the proceeds from the private placement be used?
The proceeds are primarily designated for general working capital purposes to support ongoing operations and future projects.
What is the breakdown of each unit in the private placement?
Each unit consists of one common share and one non-transferable warrant, which can be exercised for an additional common share at $0.30 within two years.
Will there be any insider transactions in the private placement?
Yes, certain insiders are expected to participate in this financing, which will be treated as a related party transaction under relevant regulations.
How can potential investors obtain more information about NorthWest Copper?
Potential investors can contact the company directly at 604-683-7790 or email info@northwestcopper.ca for detailed inquiries.
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