Trading Symbol: “PWI.H”
PRIMEWEST EXPLORATION INC.
Press Release
For Immediate Release November 22, 2012 Calgary, Alberta Trading Symbol: “PWI.H”
Calgary, Alberta - Mr. Charlie Chapman, President of Primewest Exploration Inc. (TSXV – “PWI.H”) (the “Corporation” or “Primewest”) announces the Corporation has closed the second and final tranche of its previously announced non-brokered private placement which consisted of the issuance of 1,550,000 common shares at an issue price of 5 cents per common share for aggregate proceeds of $77,500. The common shares have a statutory hold period expiring on March 20, 2013. The Corporation paid a finder's fee of 7 per cent payable in cash and an option to acquire such number of common shares equal to 7 per cent of the common shares sold under the offering, at an exercise price equal to 5 cents per share exercisable for a period of 24 months from the closing date, payable to Macquarie Private Wealth Inc.
For further information, please contact:
Primewest Exploration Inc.
Telephone: (403) 266-4141 Facsimile: (403) 266-4259 Mr. Charlie Chapman, President Email: [email protected]
Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has neither approved nor disapproved of the contents of this press release.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Corporation’s control that may cause actual results or performance to differ materially from those currently anticipated in such statements. Such forward-looking statements include comments regarding the private placement and use of funds.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.