Mr. Grant Sawiak reports
NORTHWEST BOARD PLANS TO PROCEED BY EQUITY FINANCING IN ORDER THAT ALL SHAREHOLDERS MAY DETERMINE THE FUTURE OF THE COMPANY
Following an extensive review of available financing options, the board of directors of Northwest Copper Corp. has determined that it is in the best interest of all shareholders to finance the company through an equity financing that will comprise a rights offering and a concurrent private placement on the same terms. Discussions around any potential form of debt financing have been discontinued.
Grant Sawiak, Director and Executive Chair of Northwest said "I and the rest of the Board appreciate the value of Northwest's properties. The current NI 43-101 compliant mineral resource estimates at Kwanika-Stardust and Lorraine (Table 1 & 2), as well as the exciting exploration potential at East Niv, underpin the Company's value and have attracted interest from potential strategic partners. Additionally, the management team has identified compelling exploration targets at several of the Company's properties which we intend to drill and conduct surveys on in 2024. We now must afford all shareholders the opportunity to determine the future of Northwest, and we believe the best path to do so includes a rights offering financing, which provides all shareholders the ability to participate in proportion to their existing holdings''.
Technical aspects of this news release have been reviewed, verified, and approved by Tyler Caswell, P.Geo., Vice President Exploration of Northwest, who is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Minerals Projects.
About Northwest Copper:
Northwest Copper is a copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, Northwest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to responsible mineral exploration which involves working collaboratively with First Nations to ensure future development incorporates stewardship best practices and traditional land use. Additional information can be found on the Company's website at www.northwestcopper.ca.
We seek Safe Harbor.
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