Leeward Capital Corp LEWCF

PP NEWS

[croman]

Leeward raises $526,750 to drill Nithi Mountain Leeward Capital Corp (C:LWC) Shares Issued 32,763,769 Last Close 4/28/2006 $0.165 Friday April 28 2006 - News Release Mr. James Davis reports COMPLETION OF PRIVATE PLACEMENT AND COMMENCEMENT OF DRILLING Leeward Capital Corp.'s previously announced private placement of units has been completed. The corporation has issued a total of 3,511,666 units at 15 cents for total proceeds of $526,750. Each unit consists of one flow-through common share of the corporation, plus one-half of a non-transferable share purchase warrant, with each whole warrant entitling the holder to purchase one additional flow-through common share for 25 cents until April 28, 2007. In the event that the weighted average trading price of the common shares on the facilities of the Toronto Venture Exchange is not less than 35 cents for a period of 10 consecutive trading days, the expiry date of the warrants shall be automatically accelerated without any further notice from the corporation, to 4:30 p.m. (Calgary time) on the following trading day thereafter. Insiders or related parties of the corporation purchased 1.3 million units for total proceeds of $195,000. The corporation has paid an 8-per-cent finders' fees in cash to certain arm's-length brokers for completion of the private placement. This private placement of units is subject to final approvals of the TSX-V. The securities issued under the private placement of units shall be subject to a four-month hold period in accordance with applicable securities legislation. Net proceeds from the private placement will be used by the corporation to complete further drilling on the corporation's Nithi Mountain molybdenum prospect located in central British Columbia. The corporation anticipates drilling operations to commence in the first week of May. © 2006 Canjex Publishing Ltd.