NWCCF - NorthWest Copper Announces Closing of Second Tranche of Previously Announced Private Placement | Benzinga
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Dec. 22, 2023 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. ("NorthWest" or "the Company") (TSXV:NWST) (OTCQX:NWCCF) is pleased to announce the closing of the second tranche of the previously announced Concurrent Private Placement that the Company is undertaking in conjunction with the Rights Offering. The total amount the Company is seeking to raise is no more than $4,000,0001.
The first tranche consisted of 2,145,250 common shares of the Company for gross proceeds of approximately $225,251 and closed on December 11, 20231. The second tranche consists of 2,752,000 common shares of the Company for gross proceeds of approximately $288,960. Further tranche closings will occur up to, and subsequent to, the closing of the Rights Offering.
The Rights Offering information circular and notice can be accessed under the Company's profile on SEDAR+ and at: https://northwestcopper.ca/investors/nwst-rights-offering-financing/. The Rights will expire at 5:00 p.m. (Toronto time) on December 28, 2023, after which time unexercised Rights will be void and of no value.
The common shares issued pursuant to the second tranche of the Concurrent Private Placement are subject to a four month and a day hold period expiring April 22, 2024, in accordance with applicable Canadian securities laws, and TSX Venture Exchange hold period, as applicable. The Company expects to pay a cash broker fee to Echelon Wealth Partners Inc. and CIBC World Markets Inc. on a portion of the second tranche, the amount to be determined following the final close.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state ...