Dear Karolina,
ASX Announcement
Northwest is pleased to advise that the underwriting of the Company's listed options expiring 31 January 2008 which were not exercised by option holders has been completed.
Option holders exercised approximately 23.17 million options at $0.20 per option raising approximately $4.6 million. The balance of approximately 26.67 million listed options on issue which were not exercised have been subscribed by the underwriters in accordance with the underwriting arrangements announced on 18 December 2007.
With cash in hand exceeding $10 million, Northwest is now well placed to fund the ongoing exploration and development of the Blue Spec Shear gold project.
Regards,
John J. Merity
Managing Director
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