NWM Mining Corporation Completes CAD $3.0M Equity Financing
13.12.2010 | CNW
TORONTO, Dec. 13 /CNW/ - NWM Mining Corporation (TSX-V: NWM) is pleased to announce the closing of a 30,000,000 common share private placement financing. Each share was issued at a price of $.10 cents per common share for aggregate proceeds of CAD $3,000,000. Commissions amounting to CAD $192,500 were paid, and shares totalling 1,925,000 issued, to placement agents in connection with this financing. Hale Capital of New York is a new investor to NWM.The private placement is subject to regulatory approval and the securities issued are subject to a four month plus one day hold period, ending April 14th, 2011, in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
"This financing completes the equity covenants required of NWM for full release of debt funds provided by the Company's current lender, Global Resource Fund. NWM now qualifies for the final draw down under the previously announced debt facility," said NWM President & CEO, Chris Berlet.
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.
For further information:
please contact NWM Mining Corporation at (416) 364-6799
www.nwmcorp.ca