Leeward Capital Corp LEWCF

NEWS

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Leeward plans $500,000 private placement 2006-03-24 11:35 ET - News Release Mr. James Davis reports PRIVATE PLACEMENT OF UNITS Leeward Capital Corp. has arranged a proposed private placement of units at an issue price of 15 cents per unit for gross total proceeds of up to $500,000. Each unit shall consist of one common share on a flow-through basis and one-half of a non-transferable warrant, with each whole warrant entitling the holder thereof to purchase one additional common share on a flow-through basis for 25 cents for a period of one year from the closing date of the private placement. In the event that the average weighted trading price of the common shares on the Canadian Venture Exchange trades at 35 cents over a period of 10 consecutive trading days, the expiry date of the warrants shall be automatically accelerated to 90 days from such date. Proceeds from the private placement of units shall be used by Leeward to complete further exploration drilling of its Nithi Mountain moly project located in central British Columbia. The securities to be issued under the proposed private placement of units shall be subject to a four-month hold period in accordance with applicable securities legislation. Completion of the proposed private placement of units is subject to all applicable securities laws and approval of TSX Venture Exchange. We seek Safe Harbor.