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News
Release
Pacific North West Capital
Closes $3,350,000 Private Placement
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March 31, 2008 Vancouver -- Pacific North West Capital Corp.
(TSX: PFN, OTCBB: PAWEF, Frankfurt: P7J) (the "Company") announces that further to its news release dated March 17, 2008, the Company is pleased to announce that it has completed its non-brokered private placement and has issued 6,000,000 flow-through units at a price of $0.50 per unit for gross proceeds of $3,000,000. Each unit consisted of one flow-through common share in the capital of the Company and one-half of one non-transferable, non flow-through share purchase warrant. Each whole Warrant entitles the holder to purchase one additional non flow-through common share for a period of twelve months from the closing date at a price of $0.60 per warrant share.
In addition, the Company has also issued 700,000 units to Stillwater Mining Company at a purchase price of $0.50 per unit for gross proceeds of $350,000. Each unit consisted of one common share in the capital of the Company and one-half of one non-transferable share purchase warrant. Each whole Warrant entitles the holder to purchase one additional common share for a period of twelve months from the closing date at a price of $0.60 per warrant share.
The proceeds of the private placement received from the sale of the flow-through shares will be used for drilling and exploration on the Company's PGM and Nickel projects in Canada.
In connection with this closing, the Company has paid an aggregate of $75,000 and has issued 210,000 common shares and 300,000 share purchase warrants as a finder's fee. Each whole warrant entitles the holder to purchase one additional common share for a period of twelve months from the date of closing at a price of $0.60 per warrant share.
In compliance with Canadian securities law, all of the securities issued in connection with this private placement are subject to a hold period which will expire August 1, 2008.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX.PFN OTCBB.PAWEF Frankfurt.P7J) is a mineral exploration company focused on Platinum Group Metals
(PGMs) and Base Metals. Management's corporate philosophy is to be a Project Generator, Explorer and Project Operator with the objective of option/joint venturing projects with major mining companies through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, Stillwater Mining Company, Xstrata Nickel, First Nickel, Benton Resources and
SOQUEM.
The Company has over $11 million in working capital and securities.
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On behalf of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO
For further information, please contact our Investor
Relations Department at Toll Free 1-800-667-1870
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This email should not be construed as an offer to buy or sell
securities of Pacific North West Capital Corp.
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Pacific North West Capital Corp.
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EXPLORATION STAGE |
CODE : PFN.TO |
ISIN : CA6949161070 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Pacific NorthWest is based in Canada. Pacific NorthWest holds various exploration projects in Canada. Its main exploration properties are NIXON FORK in USA and GLITTER LAKE, RAGLAN HILLS, RIVER VALLEY, COLDWELL, SWAYZE, ROCK & ROLL, NICKEL PLATS and DESTINY GOLD in Canada. Pacific NorthWest is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.4 millions as of today (US$ 1.3 millions, € 927 314). Its stock quote reached its highest recent level on December 31, 2003 at CA$ 1.40, and its lowest recent point on January 13, 2014 at CA$ 0.02. Pacific NorthWest has 91 619 461 shares outstanding. |