TORONTO, Oct. 15 /CNW/ - NWT Uranium Corp. (TSXV: NWT; OTCBB: NWURF) (the
"Corporation") announced today that it has completed a non-brokered private
placement for aggregate proceeds of $1,000,000. The placement was for an
aggregate of 20,000,000 common shares at a subscription price of $0.05 per
share. The Corporation plans to use the proceeds from the offering principally
for exploration and development activities at the Corporation's Picachos
project in Durango, Mexico and general working capital.
After giving effect to the offering, the Corporation has 126,131,342
common shares outstanding.
John Lynch, the Corporation's President and Chief Executive Officer,
stated, "We are very pleased to be able to conclude this financing
notwithstanding the current market tumult. We look forward to commencing our
drilling program at the Picachos project under the guidance of M. Robinson
MASc., P. Eng."
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: John P. Lynch, NWT Uranium Corp., (416)