NorthWest Copper Announces C$20 Million Bought Deal Private Placement

About this update from Northwest Copper Corp.

[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 09, 2021 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. (\"NorthWest\" or the \"Company\") (TSXV:NWST) is pleased to announce that it has entered into an agreement with National Bank Financial Inc. (“National Bank”), pursuant to which a syndicate of underwriters led by National Bank (together, the “Underwriters”), have agreed to purchase 16,950,000 charity flow-through common shares (the “Charity FT Shares”) on a bought deal private placement basis (the “Offering”). The Charity FT Shares will qualify as “flow-through shares” within the meaning of the Income Tax Act (Canada) (the “Tax Act”). The Charity FT Shares will be sold at a price of C$1.18 per Charity FT Share for aggregate gross proceeds of C$20,001,000. The Company has also granted the Underwriters an option to cover over-allotments for the Charity FT Shares (the “Underwriters’ Option”), which will allow the Underwriters to offer up to an additional 15% of the offered Charity FT Shares, on the same terms. The Underwriters’ Option may be exercised in whole or in part at any time up 48 hours prior to the closing of the Offering. The gross proceeds from the sale of the Charity FT Shares will be used before December 31, 2022 for exploration of the Company’s properties in British Columbia, which will constitute “Canadian exploration expenses” (within the meaning of the Tax Act), that will qualify as “flow-through mining expenditures” within the meaning of the Tax Act. The Offering is expected to close on or about December 2, 2021 or such other date as agreed between the Company and the Underwriters (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange. In consideration for their services, the Underwriters will receive a cash commission equal to 5.0% of the gross proceeds of the Offering, including any proceeds realized from the exercise of the Underwriters’ Option. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the U...

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