NWest Energy Proposes $3.2MM Private Placement
NWest Energy proposes to carry out a private placement, on a best efforts basis, of up to 10 million flow-through shares at a purchase price of $0.32 per Flow-Through Common Share, for proceeds of up to $3,200,000.
The proceeds of the Offering will be used to increase the size of the Company's proposed 3D seismic exploration area and for general corporate purposes. Securities issued by way of the Offering will be subject to a four-month hold period. The Offering is being led by GMP Securities L.P. and is expected close on or about November 06, 2008. The commission of the Offering is 6%. The Offering is subject to approval of the TSX Venture Exchange.