NWCCF - NorthWest Copper Announces Closing of Third Tranche of Previously Announced Private Placement and Close of Rights Offering | Benzinga
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Jan. 02, 2024 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. ("NorthWest" or "the Company") (TSXV:NWST) is pleased to announce the closing of the third tranche of the previously announced Concurrent Private Placement and the closing of the previously announced Rights Offering1.
Shareholders subscribed for a total of 8,316,425 common shares of the Company pursuant to the Rights Offering for gross proceeds of approximately $873,224. The remaining rights expired unexercised on December 28, 2023. The third tranche of the Concurrent Private Placement consists of 2,828,571 common shares of the Company for gross proceeds of approximately $297,000. The total gross proceeds from the Rights Offering and the Concurrent Private Placement to date are $1,684,436 and will be used for working capital purposes. Further tranche closings of the Concurrent Private Placement will occur in the coming weeks.
The common shares issued pursuant to the third tranche Concurrent Private Placement are subject to a four month and a day hold period expiring April 30, 2024, in accordance with applicable Canadian securities laws, and TSX Venture Exchange hold period, as applicable.
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 securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption ...