Mountain-West plans private placement to meet capital requirements

Company needs to raise funds to make payment, secure working capital

By Devika Patel

Knoxville, Tenn., July 6 - Mountain-West Resources Inc. said it needs to conduct a private placement to meet its capital requirements.

The exact amount of the placement has not yet been determined, but the company needs to raise enough to make a payment of about $2.1 million under its Mina Pascua Property Option Agreement and to secure working capital for at least six months.

Mountain-West is a Vancouver, B.C.-based hard-rock minerals mining company

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