NWM Mining Corporation Announces Initial Closing of Private Placement
TSX Venture Exchange
TORONTO, Dec. 11, 2012 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSX-V: NWM) announces that it has closed the first tranche of a private placement financing resulting in the issuance of 13,500,000 units. Each unit is comprised of a single share priced at $0.05 per share and has a warrant with a 48 month term priced at $0.10 per share. Gross proceeds of $675,000 have been received in connection with this unit financing. The common shares issued in connection with this private placement will be subject to a hold period, ending April 12, 2013, which is four months plus one day from the date of issuance, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Insiders of the corporation have subscribed for 6.5M units ($325,000 CAD) of this financing. The private placement offering is subject to regulatory approval.
Fees totalling $23,800 and units totalling 476,000 have been paid to placement agents in connection with this private placement.
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.
SOURCE NWM Mining Corporation