By Sheri Kasprzak
New York, Dec. 7 - Northwestern Mineral Ventures Inc. said it intends to raise up to C$1.5 million in a private placement of flow-through shares and non flow-through units.
The company plans to sell up to 1,666,667 flow-through shares at C$0.60 each and up to 909,091 units at C$0.55 each.
The units are comprised of one share and one half-share warrant. The full warrants are exercisable at C$0.70 each for one year.
Toll Cross Securities Inc. is the placement agent for the deal.
Proceeds will be used for working capital as well as ongoing exploration.
Based in Toronto, Northwestern Mineral Ventures is a mineral exploration company with a focus on uranium, gold and silver.
| Issuer: | Northwestern Mineral Ventures Inc.
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| Issue: | Flow-through shares and units of one share and one half-share warrant
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| Amount: | C$1.5 million (maximum)
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| Placement agent: | Toll Cross Securities Inc.
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| Pricing date: | Dec. 7
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| Stock price: | C$0.56 at close Dec. 7
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| Flow-through shares
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| Shares: | 1,666,667 (maximum)
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| Price: | C$0.60
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| Warrants: | No
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| Units
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| Units: | 909,091
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| Price: | C$0.55
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.70
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