VANCOUVER, March 17 /CNW/ - Pacific North West Capital Corp. (TSX: PFN;
OTCBB: PAWEF; Frankfurt: P7J). Pacific North West Capital Corp. (the
"Company") wishes to announce the following:
A non-brokered private placement of up to 6,000,000 flow-through units at
a price of $0.50 per unit for gross proceeds of up to $3,000,000. Each unit
will consist of one flow-through share in the capital of the Company and
one-half of one non-transferable, non flow-through share purchase warrant,
each whole Warrant entitling the holder thereof to purchase one additional non
flow-through common share of the Company for a period of twelve months from
the closing date at a price of $0.60 per share.
The proceeds of the private placement received from the sale of the
flow-through shares will be used for drilling and exploration on the Company's
PGM and Nickel projects in Saskatchewan, Ontario, NWT and Quebec.
A non-brokered private placement of up to 1,000,000 units at a purchase
price of $0.50 per unit for gross proceeds of up to $500,000. Each unit will
consist of one common share in the capital of the Company and one-half of one
non-transferable share purchase warrant, each whole Warrant entitling the
holder thereof to purchase one additional common share of the Company for a
period of twelve months from the closing date at a price of $0.60 per share.
The proceeds from the private placement received from the sale of the
units, will be used for the acquisition of additional platinum group metal and
nickel projects and working capital.
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 OTCBB.PAWEF Frankfurt.P7J) is a
mineral exploration company focused on Platinum Group Metals (PGMs) and Base
Metals. Management's corporate philosophy is to be a project generator,
explorer and project operator with the objective of option/joint venturing
projects with major mining companies through to production. To that end,
Pacific North West Capital's current option/joint ventures agreements are with
Anglo Platinum, Stillwater Mining Company, Xstrata Nickel, First Nickel,
Benton Resources and SOQUEM.
PFN management is currently negotiating and acquiring several new PGM and
Nickel projects throughout North America.
On behalf of the Board of Directors
President and CEO
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements of
historical fact, included herein are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents filed from
time to time with The Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange Commission.
For further information:
For further information: Tel: (604) 685-1870, Fax: (604) 685-8045,
Email: email@example.com, or visit www.pfncapital.com, 2303 West 41st
Avenue, Vancouver, B.C., Canada, V6M 2A3