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NorthWest Copper Increases Private Placement of Units to $12.0 Million

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NorthWest Copper (NWST.V) is increasing its private placement of units by $2.0 million, to $12.0 million, the company said on Thursday.

NorthWest Copper will issue at least $3.0 million worth of hard-dollar (HD) units, at $0.35 each, a combination of charity flow-through (CFT) units at $0.515 apiece, and flow-through (FT) units at $0.41 each. The agents have also been granted a 15% over-allotment option to offer additional HD, CFT and FT units.

Each unit will comprise of one share and one-half of a two-year warrant to buy a share at $0.45.

"The strong investor demand for this financing is a significant success for the company. Demand for both the hard-dollar and flow-through components reflects confidence in our new strategic approach at Kwanika following the updated mineral resource released in March. This funding will support delivery of an updated Preliminary Economic Assessment (PEA) at the Kwanika-Stardust project, targeted for mid 2026, and fully fund planned exploration drilling aimed at upgrading and expanding the mineral resources," said chief executive Paul Olmsted.

The offering will close on May 14.

NorthWest Copper shares were last seen unchanged at $0.345 on the TSX Venture Exchange.

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