HALIFAX, May 2, 2014 /CNW/ - NWest Energy Corporation (TSXV: NWN) is pleased to announce that it intends to complete a non-brokered
private placement ("Private Placement") of up to 3,333,333 common
shares at a price of $0.06 per share for aggregate gross proceeds of
Finders will be entitled to a commission in the amount of 6.0% of the
gross proceeds received from the sale of the shares ("Finder's Fee").
Net proceeds of the Private Placement will be used for working capital
and ongoing operations to identify opportunities for the Company.
The Private Placement is scheduled to close on or before May 29, 2014
and is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval and
acceptance by the TSX Venture Exchange. All securities to be issued
pursuant to the private placement will be subject to a four month hold
About NWest Energy
NWest Energy Corporation is a TSX Venture Exchange listed Canadian based
resource company focused on exploration, acquisition and advancement of
Oil and Gas properties.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking information" including
statements regarding the Private Placement that are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the
control of the Company. Statements regarding future fund raising and
capital expenditures are subject to all of the risks and uncertainties
normally incident with the raising of capital including, but are not
limited to, financing risks and risk of regulatory change. Investors
are cautioned that any such statements are not guarantees of future
events and that actual events or developments may differ materially
from those projected in the forward-looking information. Such
forward-looking information represents management's best judgment based
on information currently available. The Company does not assume the
obligation to update any forward-looking statement, except as required
by applicable law.
For more information on the Company and the risk factors inherent in its
business, investors should review the Company's Annual Information Form
SOURCE: NWest Energy Corp.
For further information:
NWest Energy Corporation
Kevin Aylward B. Comm
Chief Executive Officer