Pacific North West Capital Corp. Announces Non-Brokered Private Placement
2013年7月16日 - 4:21AM
OTC Markets
July 15, 2013 Vancouver, Canada -- Pacific North West Capital Corp.
(TSX: PFN; OTCQX: PAWEF; Frankfurt: P7J) (the "Company") is pleased
to announce a non-brokered flow-through and non flow- through
private placement of up to a combined 16,000,000 units for gross
proceeds of up to $800,000.
Each non flow-through unit ("NFT Unit") at a price of
$
0.05 per unit will consist of one common share
and one-half of one, non-transferable, share purchase warrant
("Warrant"). Each whole Warrant will entitle the holder to purchase
one common share of the Company at a price of
$
0.10 for a period of 12 months from the closing
date.
Each flow-through unit ("FT Unit") at a price of
$
0.05 per unit will consist of one common
flow-through share and one-half of one non flow-through,
non-transferable, share purchase warrant. Each whole Warrant will
entitle the holder to purchase one additional non flow-through
common share of the Company at $
0.10 for a period
of 12 months from the closing date.
The proceeds from the private placement received from the sale of
the FT Units will be used for the further development and
exploration of the River Valley PGM Project and exploration of two
large adjacent properties, all located in the Sudbury region of
Ontario.
An indicative budget includes drilling untested and under tested
drill targets in the footwall to the River Valley Intrusion at Dana
North, including potential footwall embayments (Fig. 1) and magma
feeder features interpreted during the 2012 exploration program,
and exploration on regional properties (River Valley East and
West).
The proceeds from the sale of NFT Units will be used as working
capital and for the additional projects that the Company currently
holds in Ontario and Alaska, and for evaluation and potential
acquisition of additional platinum group metals and precious metal
projects in Canada and the United States. Finder's fees may be paid
in connection with this private placement.
The private placement and any finder's fees payable are subject to
regulatory approval. Any securities issued pursuant to the offering
shall be subject to a four month and a day hold period commencing
on the closing date.
About Pacific North West Capital Corp.
PFN is a mineral exploration company whose philosophy is to be a
project generator, explorer and project operator in order to
option/joint venture its projects to partners for funding through
to production. PFN is focused on the discovery, exploration and
development of PGM and nickel-copper sulphide deposits in
geologically prospective regions in North America, particularly
Canada. The Company's key asset is its 100% owned River Valley PGM
Project in the Sudbury region of northern Ontario.
River
Valley is one of the largest undeveloped primary PGM projects in
Canada. PFN also has PGM and nickel-copper projects in
Alaska. The Company continues to evaluate PGM and nickel-copper
properties and projects in North America for potential acquisition
opportunities.
![](http://www.pfncapital.com/i/maps/071513PFN_map1.jpg) |
Figure 1. Exploration
targets for new higher grade resources in the footwall to the River
Valley Intrusion. The peak of the IP chargeability
anomalies (red outlined in white) plot to the east of the main PGM
mineralized zone ($) on the basal contact of the intrusion. The
anomalies represent untested and under tested drill targets in the
footwall, adjacent to the current PGM resources. |
About River Valley Project
In January 2011, Pacific North West Capital Corp. successfully
negotiated the 100% acquisition of the River Valley PGM Project
from Anglo Platinum Limited. In May 2011, Pacific North West
Capital Corp. commenced a $5 million drill program on the project.
The program was successfully completed in May 2012. The drilling
data were combined with holes drilled previously and delivered to
Tetra Tech for a new mineral resource estimation.
The NI43-101 compliant mineral resources for the River Valley
Project effective May 1, 2012 are listed in the table below. With
2.5 Moz Pd+Pt+Au in Measured and Indicated resources, the River
Valley Project is one of the largest undeveloped primary PGM
projects in Canada. The project has excellent infrastructure
support and is located 100 km from the city of Sudbury, Ontario,
Canada's largest nickel-copper-PGM mining and processing
centre.
![](http://www.pfncapital.com/i/maps/071513PFN_map2.jpg)
With these mineral
resources, the River Valley Project under assessment for
development potential as an open pit PGM-Cu-Ni mining operation as
the project advances towards a Preliminary Economic Assessment
Study.
Qualified Persons Statement
This news release has been reviewed and approved for technical
content by Dr. William Stone Ph.D., P.Geo. a Qualified Person under
the provisions of National Instrument 43-101.
Pacific North West Capital Corp. is an International Metals Group
Company.
(www.internationalmetalsgroup.com)
On behalf of the Board of Directors
"Harry Barr"
Harry Barr
Chairman and CEO
For
further Information, contact: Tel: +1.604.685.1870 Fax:
+1.604.685.8045
Email: info@pfncapital.com, or visit www.pfncapital.com
650 - 555 West 12th Avenue, Vancouver, B.C., Canada, V5Z
3X7
Neither the TSX nor its Regulation
Services Provider accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical fact, included herein are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with The Toronto Stock
Exchange, British Columbia Securities Commission and the United
States Securities & Exchange Commission.
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