Pacific North
West Capital Corp. (TSX: PFN; OTCQX: PAWEF; Frankfurt: P7J) (the "Company") is pleased to
announce a non-brokered private placement consisting of up to 2,500,000
units of non-flow-through units ("NFT Units") at a purchase
price of $0.20 per unit and up to 10,000,000 flow-through ("FT
Units") at a purchase price $0.22 per FT Unit.
Each NFT Unit will consist of one fully paid and non-assessable common
share in the capital of the Company and one-half of one share purchase
warrant ("NFT Warrant"), each whole NFT Warrant entitling the
holder thereof to purchase one additional non-flow-through common share
of the Company at a price of $0.30 for a period of 18 months from the
closing date, subject to accelerated expiry; such expiry being
accelerated to 30 days in the event the Company's shares have closed at
or above a price of $0.50 per share for 10 consecutive trading days on
the Toronto Stock Exchange ("TSX").
Each FT Unit will consist of one fully paid and non-assessable common
share in the capital of the Company and one-half of one share purchase
warrant ("NFT Warrant"), each whole NFT Warrant entitling the
holder thereof to purchase one additional non-flow-through common share
of the Company at a price $0.32 for a period of 18 months, subject to
accelerated expiry; such expiry being accelerated to 30 days in the event
the Company's shares have closed at or above a price of $0.55 per share
for 10 consecutive trading days.
The FT proceeds from the private placement received from the sale of FT
Units will be used for the further development of the River Valley PGM
Project located in the Sudbury region of Ontario (see news releases dated
Aug 4, 2011, Aug. 16 and Sept. 27, for additional information please
visit the Company's website: www.pfncapital.com). The NFT proceeds will
also be used as working capital for the additional projects that the
Company currently holds in its portfolio situated in Ontario, British
Columbia and Alaska, and for the acquisition of additional platinum group
metals and precious metals projects in Canada and the United States.
A finder's fee may be paid. The foregoing is subject to regulatory
approval.
About Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; FSE: P7J) is a
mineral exploration company whose corporate philosophy is to be a project
generator, explorer and project operator with the objective of option /
joint venturing its projects through to production. In January 2011,
Pacific North West Capital successfully negotiated the 100% acquisition
of the River Valley PGM Project from Anglo Platinum Limited, making Anglo
Platinum the largest shareholder of PFN holding approximately 9% of the
Company (as of January, 2011). In special situations, like our 100% owned
River Valley PGM Project, the Company is prepared to fund the project
through to feasibility and on to production. The River Valley PGM project
is one of North America''s newest and largest
primary platinum group metals (PGM) deposits. The project has an
excellent infrastructure and is located 60 mile from Sudbury, Ontario.
In addition, PFN is a significant shareholder of Fire River Gold Corp. (TSX.V: FAU) which company is developing the Nixon Fork Gold Mine
in Alaska, with production having commenced in July 2011. The Company is
also a controlling shareholder in Next Gen Metals Inc. (TSX.V: N)
Pacific North West Capital Corp. is well funded with an experienced
management team and the ability to take advantage of its growing asset
base in Platinum Group Metals and precious metals. To that end, the
Company is in the process of adding key technical and financial people to
our management, advisory team and our board of directors. PFN has
approximately $6.0 million in working capital and securities and no debt.
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 & CEO
|