TSX Venture Exchange
Symbol: NWM
TORONTO, Sept. 17, 2015 /CNW/ - NWM Mining Corporation
("NWM" or the "Company") (TSX-V: NWM) announces that it has
entered into two amendments to the Arrangement Agreement dated
June 6, 2015 with SFM Holding,
S.A.P.I. DE C.V ("SFM"), GFM Minería, S.A.P.I. DE C.V
("GFMM" together with SFM, the "Purchasers") and
Global Resource Fund ("GRF").
GFMM will continue to acquire all of the issued and outstanding
common shares of NWM ("NWM Shares") for cash consideration
of C$0.005.
NWM will be seeking an order of the Ontario Superior Court of
Justice (Commercial List) approving the amendments to the plan of
arrangement on or about September 18,
2015. The arrangement is expected to close shortly
thereafter.
The arrangement was approved by NWM Shareholders holding
approximately 98% of the Common Shares voted at the shareholders
meeting held on or about July 15,
2015 and 97% of the majority of the minority.
The first amendment was signed on September 13, 2015 to, among other things, extend
the Outside Date to October 15, 2015
to allow the Purchasers to finalize their financing and the second
on September 16, 2015 to, among other
things, provide for a revised plan of arrangement in which only a
partial repayment of the debt owed to GRF will occur at the
effective time of the arrangement. Under the revised plan of
arrangement, the remaining debt will remain outstanding pursuant to
the terms of an amended and restated promissory note, which will be
due on or before December 4,
2015. Following the effective time of the arrangement and the
acquisition of NWM by GFMM, GRF will continue to hold its security
over NWM, and will continue to be owed its debt by NWM.
About NWM Mining Corporation
NWM is in commercial gold production at its wholly owned
Lluvia-Jojoba gold mine. The mine is an open pit leach
operation in Sonora State, Mexico.
Additional information about NWM can be found on the NWM website
at www.nwmcorp.ca or on SEDAR at www.sedar.com.
On Behalf of Management and the Board:
"Darren
Koningen"
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"Mark
Selby"
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Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy of
this release.
SOURCE NWM Mining Corporation