NWest Energy closes $282,246 private placement
NWest Energy closes $282,246 private placement
2014-07-02 16:12 ET - News Release
Mr. Kevin Aylward reports
NWEST ENERGY CORP. COMPLETES ITS PRIVATE PLACEMENT
NWest Energy Corp., on June 24, 2014, closed the second and final tranche of its oversubscribed non-brokered 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 at a price of six cents per unit, with each unit consisting of one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of 10 cents 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 per cent of the gross proceeds received from the sale of units to such subscribers and warrants equal to 6 per cent of the number of units issued to such subscribers.
Net proceeds will be used for working capital and pursuing new opportunities.
We seek Safe Harbor.
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