Pacific North West Capital Corp. Announces Non-Brokered Private Placement
27 2월 2013 - 8:20AM
OTC Markets
February 26, 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 16,333,333 units for gross proceeds of up to
$960,000.
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 18 months from the
closing date.
Each flow-through unit ("FT Unit") at a price of
$0.06 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
$0.12 for a
period of 18 months from the closing date.
The proceeds from the private placement received from the sale of
the 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.
Indicative budget includes drilling untested and under tested drill
targets in the footwall to the River Valley Intrusion at Dana
North, drilling magma feeder features interpreted during 2012
exploration program ( Fig.1) 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 its portfolio situated in Ontario and Alaska, and for the
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 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 North
America. PFN also has PGM
and nickel-copper projects in northwest Ontario, Saskatchewan, and
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/022613PFN_Map.jpg)
Figure 1- Exploration targets for new higher
grade resources internally within footwall of River Valley
Intrusion. The peak of the IP chargeability anomalies ( red
outlined in white) plot to the east of the main mineralized zone
($) on the basal contact. The anomalies represent untested and
under tested drill targets in the footwall to the River Valley
Intrusion
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. The River Valley Project is one of the
largest undeveloped primary PGM projects in North America. 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 metal recovery centre.
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. Data from 2011-2012 resource drilling was
combined with holes drilled previously up to 2005, and delivered to
Wardrop Engineering for a mineral resource update.
The NI43-101 compliant mineral resources for the River Valley
Project effective May 1, 2012 are illustrated in the table
below:
![](http://www.pfncapital.com/i/maps/022613PFN_table.jpg)
With these mineral resources, the River Valley
Project is to be assessed for development potential as a large open
pit PGM-Cu-Ni mining and milling operation as the project advances
towards a Preliminary Economic Assessment Study. In support of this
study, a metallurgical test program is in progress.
Qualified Persons
Statement
This news release has been reviewed and approved for technical
content by Dr. William Stone Ph.D., P.Geo. and Mr. Ali
Hassanalizadeh M.Sc., P.Geo. both Qualified Persons 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
The Toronto Stock Exchange has not reviewed and does not accept
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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