Pacific North West Capital Closes 1st Tranche of Private Placement and Issues Early Warning Release
December 14, 2015 Vancouver, Canada – Pacific North West Capital Corp. (“PFN” and the “Company”)
| (TSX.V: PFN; Frankfurt: P7J.F; OTC Pink: PAWEF | announces that it has closed the 1st tranche of its non |
| brokered private placement raising gross proceeds of $183,500. |
The Company issued 11,566,666 Non Flow Through units (NFT Units) at a price of $0.015 per NFT Unit and 500,000 Flow Through units (FT Units) at a price of $0.02 per FT Unit pursuant to a discretionary waiver obtained from the TSX Venture Exchange on September 18, 2015 from the $0.05 per share minimum pricing requirements. Each NFT Unit and FT Unit consists of one common share and one non‐ transferable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.05 per share for a period of 24 months from closing.
Mr. Harry Barr, Chairman, CEO and a director of the Company purchased 3,400,000 NFT Units from the Company at a price of $0.015 per NFT unit, pursuant to the private placement.
Prior to the closing of the private placement, Mr. Barr held directly and indirectly 7,641,304 shares and warrants and options to purchase an additional 2,955,833 common shares of the Company, representing approximately 20.58% of the Company’s issued and outstanding shares on a post‐ conversion beneficial ownership basis. As a result of Mr. Barr’s acquisition pursuant to the private placement, Mr. Barr now holds 11,041,304 common shares and 6,355,833 warrants and options of the Company, representing approximately 25.99% of the Company’s current issued and outstanding shares of the Company on a post‐conversion beneficial ownership basis
The proceeds will be used for continuing to review the previous drill information and geological interpretation of River Valley, in order to further determine the origin of the higher grade mineralization discovered earlier this year at Target T2 (refer to March 11, 2015 news release). The objective of the review is to outline additional quality drill targets in the northern portion of River Valley. A portion of the funds will also be used to finalize the next phase of metallurgical testwork and for working capital
Finder’s fees were paid in connection with the private placement in the amount of $700 and 35,000 finder’s warrants. The finder’s warrants are on the same terms as the financing Warrants.
All securities issued in connection with the private placement are subject to a four month and a day hold period expiring on April 12, 2016.
About Pacific North West Capital
PFN is a mineral exploration company whose philosophy is to be a project generator, explorer and project operator in order to option/joint venture its projects to partners for funding through to production. PFN is focused on the discovery, exploration and development of PGM and nickel‐copper sulphide deposits in geologically prospective regions in North America, particularly Canada. The Company’s key asset is its 100% owned River Valley PGM Project in the Sudbury region of northern Ontario. River Valley is one of the largest undeveloped primary PGM projects in Canada. The Company
News Release 1
continues s to evaluate PGM and nickel‐copper properties and projects i in North America for pot tential acquisition opportunities.
About Riv ver Valley PGM Project
River Vall ley is one of f the largest primary PGM M Projects in Canada. NI4 43‐101 comp pliant near‐su
urface resources s are: 26 Mt g grading 1.5 g/ /t PdEq for 1.2 Moz contai ined PdEq in the measured d category; 66 6 Mt grading g 1.4 g/t PdEq for 2.8 Moz con ntained PdEq q in the indicated category; a and 36 Mt g grading 1.1 g/t Pd dEq for 1.2 M Moz containe ed PdEq
tegory (see PFN’s
in the inferred cat
website fo or details).
The Proje ect is located within 100 ro oad‐km of Sudbury and is re eadily accessi ible via paved and gravel road ds with settle ements, rby. The River Valley power and rail all near PGM deposit is overla ain by mining g leases 00% by PFN. Exploration upside owned 10 ous, particularly at depth.
is enormo
QUALIFIED PERSON
nical content of this new re The techn elease has been prepared, rev viewed and approved by Dr. William Stone, P.Geo., principal c consulting ge eologist to Pac cific North We est Capital Corp. and a Qua alified ovisions of National Person un nder the . pro Instrumen nt 43‐101.
Figure 2. Location of the R River Valley P PGM Project, Ontario.
On behalf f of the Board d of Directors
Fur rther Information n: Tel: +1.604.685.1870 Fax: +1.604 4.685.8045 Email: info@ @pfncapital.com, or visit www.pfnc capital.com 2148 West 38th Av Suite 101 – 2 ve., Vancouver, BC C, V6M 1R9
Harry Bar rr Chairman n and CEO
Neither the TSX X Venture Exchange nor its Regulation Se ervices Provider (as that term is defined i in the policies of the TSX Venture Exchan nge) accepts respons sibility for the adequacy o or accuracy of this release.
rd Looking Statements. This release cont g statements that in Cautionary Not te Regarding Forwar tains forward‐looking nvolve risks and unce ertainties. These sta atements may differ mat terially from actual future events or resu ults and are based on current expectatio ons or beliefs. For th his purpose, stateme ents of historical fac ct may be deemed to be forward‐looking sta atements. In additio on, forward‐looking statements include statements in whic ch the Company use es words such as “co ontinue”, “efforts”, “expect”, “believe”, “anticipate”, “confident t”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project t”, “goal”, “target”, “prospects”, “optim mistic” or similar expressions. These stateme ents by their nature involve risks and un ncertainties, and actu ual results may diffe er materially depending on a variety of im mportant factors, including, among others, the Company’s ability y and continuation o of efforts to timely a and completely mak ke available adequate e current public info ormation, additional or different regulatory and legal requirements and restrictions th hat may be imposed, , and other factors as may be discussed i in the documents file ed by the Company on SEDAR (www.sedar.com), including the m most recent reports that identify import tant risk factors that t could cause actual l results to differ fro om those pectations or estimates or to contained in th he forward‐looking s statements. The Co ompany does not un ndertake any obligat tion to review or co onfirm analysts’ exp release publicly any revisions to any forward‐looking g statements to ref flect events or circ cumstances after the date hereof or t to reflect the occur rrence of unanticipated e events. Investors sho ould not place undue e reliance on forward d‐looking statements s.
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