TSX Venture Exchange
TORONTO, Nov. 28, 2012 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSX-V: NWM) is pleased to announce that it has engaged Sunel Securities Inc. (the
"Agent") as lead agent on a best efforts basis in connection with a
proposed private placement of up to 160,000,000 units at an issue price
of $0.05 per unit for gross proceeds of up to $8,000,000 (the
"Offering"). Each Unit will consist of one common share ("a Unit
Share") and one whole common share purchase warrant (a "Warrant"). Each
Warrant will entitle the holder, on exercise, to purchase one common
share at $0.10 for a term of 48 months from the closing date. The
proceeds of the Offering will be used to ramp up production at the
Lluvia-Jojoba project, to conduct exploration and expand resources and
to pay down existing debt as well as for general working capital
The Offering is expected to close on or before December 21st, subject to the completion of satisfactory due diligence, preparation
of definitive documentation, receipt of TSX Venture Exchange approval
and other customary closing conditions.
The Company also wishes to announce a special meeting of its
shareholders (the "Meeting"), scheduled to be held on or before
February 28th, 2013 in order for shareholders to approve consolidation of the
Company's common shares on the basis of one (1) post-consolidation
common share for every ten (10) pre-consolidation common shares. The
consolidation requires the approval of two-thirds of the common shares
represented at the Meeting in person or by proxy and will be described
in greater detail in a management information circular to be delivered
to shareholders. The directors of the Company believe that the
consolidation is in the best interests of the Company's shareholders.
The above transactions remain subject to certain regulatory approvals,
including acceptance by the TSX Venture Exchange.
Additional information about NWM can be found on the NWM website at www.nwmcorp.ca or on SEDAR at www.sedar.com.
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.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes "forward-looking information", as such term
is defined in applicable securities laws. Forward-looking information
includes, without limitation, the success of exploration activities,
price outlooks, production expectations and other similar statements
concerning anticipated future events, conditions or results that are
not historical facts. These statements reflect management's current
estimates, beliefs, intentions and expectations; they are not
guarantees of future performance. The Company cautions that all forward
looking information is inherently uncertain and that actual performance
may be affected by a number of material factors, many of which are
beyond the Company's control. Accordingly, actual future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. All statements are made as of the date of
this news release and the Company is under no obligation to update or
alter any forward-looking information.
SOURCE: NWM Mining Corporation
For further information:
please contact NWM Mining Corporation at (416) 364-6799.