By Devika Patel
Knoxville, Tenn., Oct. 15 - NWest Energy Inc. said it will raise up to C$3.2 million in a private placement of shares.
The company will sell up to 10 million flow-through common shares at C$0.32 apiece on a best-efforts basis.
Settlement is expected on Nov. 6.
GMP Securities LP is the lead agent.
Proceeds will be used to increase the size of the company's proposed 3D seismic exploration area and for general corporate purposes.
NWest Energy is a mineral exploration company based in St. John's, Newfoundland.
| Issuer: | NWest Energy Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3.2 million
|
| Shares: | 10 million
|
| Price: | C$0.32
|
| Warrants: | No
|
| Agent: | GMP Securities LP (lead)
|
| Pricing date: | Oct. 15
|
| Settlement date: | Nov. 6
|
| Stock symbol: | TSX Venture: NWN
|
| Stock price: | C$0.31 at close Oct. 14
|
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