| NWest Energy Corp. Completes its Private Placement | |
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HALIFAX , July 2, 2014 /CNW/ - NWest Energy Corp. (NWN.V) confirms
that on June 24, 2014 it closed the second and final tranche of its
over-subscribed non-brokered private placement ("Private Placement ")
for aggregate gross proceeds of $282,246.86 . Pursuant to the Private
Placement, the Company issued a total of 4,704,114 Units ("Units") at a
price of $0.06 per Unit, with each Unit consisting of one common share
in the capital of the Company (a "Common Share") and one
non-transferable common share purchase warrant (a "Warrant"). Each
Warrant entitles the holder thereof to acquire one Common Share at a
price of $0.10 per Common Share for a period of 24 months. All
securities issued are subject to a four month and one day hold period.
A finder responsible for the introduction of certain subscribers to the
Private Placement was paid a finder's fee in the amount of 6% of the
gross proceeds received from the sale of Units to such subscribers and
Warrants equal to 6% of the number of Units issued to such subscribers.
Net proceeds will be used for working capital and pursuing new
opportunities.
About NWest Energy Corp.
NWest Energy Corp. is a TSX Venture Exchange listed, Canadian based
resource company focused on exploration, acquisition and advancement of
oil and gas properties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Information:
This press release includes "forward-looking information" including
statements regarding the Private Placement that are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the
control of the Company. Statements regarding future fund raising and
capital expenditures are subject to all of the risks and uncertainties
normally incident with the raising of capital including, but are not
limited to, financing risks and risk of regulatory change. Investors
are cautioned that any such statements are not guarantees of future
events and that actual events or developments may differ materially
from those projected in the forward-looking information. Such
forward-looking information represents management's best judgment based
on information currently available. The Company does not assume the
obligation to update any forward-looking statement, except as required
by applicable law.
For more information on the Company and the risk factors inherent in its
business, investors should review the Company's Annual Information Form
at www.sedar.com.
SOURCE NWest Energy Corp.
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NWest Energy Inc
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CODE : NWN.V |
ISIN : CA62950D1015 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
NWest Energy is a gold and copper exploration company based in Canada. NWest Energy holds various exploration projects in Canada and in Chile. Its main exploration properties are CONDOR ET.AL in Chile and WESTERN NEWFOUNDLAND in Canada. NWest Energy is listed in Canada and in United States of America. Its market capitalisation is CA$ 263 900 as of today (US$ 200 115, € 178 783). Its stock quote reached its highest recent level on January 16, 2009 at CA$ 3.00, and its lowest recent point on December 30, 2016 at CA$ 0.01. NWest Energy has 7 540 000 shares outstanding. |