NorthWest Upsizes Flow Through Financing to $4.1 Million and Closes Final Tranche
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TORONTO, Aug. 25, 2025 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. (“NorthWest” or “the Company”) (TSX-V: NWST) is pleased to announce it has upsized a second time, its non-brokered critical mineral flow through private placement financing originally announced on July 16, 2025 and July 29, 2025 (“FT Offering”). Continued demand for the FT Offering has allowed the Company to increase the placement for a second time to an aggregate total of $4.1 million in gross proceeds. The final tranche of the FT Offering, in an amount of $0.9 million, has closed and the Company’s $4.1 FT Offering is complete.
CEO Paul Olmsted stated, “The demand from investors for the flow through financing and its closure has been a great success for the Company. The continuing demand reflects the significant interest and confidence in our new strategic approach at Kwanika of targeting higher-grade zones within the existing mineral resources. This increased funding will allow the Company to execute on its planned 2025 exploration drilling and metallurgical programs and bring forward certain drill holes originally planned for 2026.”
Geoff Chinn, VP Business Development and Exploration said, “Closing of the financing has allowed for a staged approach to executing on the 2025 exploration program. Pre-work wildlife surveys at Kwanika are now done, the access road has been prepared, camp and core shack set-up are complete, and equipment, supplies and contractors are on site. We are excited to start the 5135 m drill program to confirm and expand higher grade zones within the broader mineral resource. This is expected to support more selective bulk underground mining methods. Nearby targets, such as the Transfer Target and the Andesite Breccia Target will be tested. These targets provide the Company with the potential for discovering new zones of mineralization. In addition, we will collect samples from existing core to support a metallurgical program designed to fill gaps in previous test work and improve copper and gold recoveries, especially at finer grind sizes.”
The second upsizing of the FT Offering increases the total FT Offering from $3.5 million to an aggregate of $4.1 million in gross proceeds. The final tranche of the upsized FT Offering includes subscriptions of 887,490 units (each a “FT Unit”) at a price of $0.225 per FT Unit for gross proceeds of $0.9 million. Each FT Unit consists of one flow through common share of the Company (each a “FT Share”) and one half of one non-transferable common share purchase warrant (each whole warrant being a “FT Warrant”) with each FT Warrant exercisable to purchase one additional common share of the Company at an exercise price of $0.34 until August 22, 2027. Proceeds of the flow through placement will be used for exploration at Kwanika Central and the nearby Transfer and Andesite Breccia Targets.
The FT Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). An amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) “Canadian exploration expenses” (as defined in the Tax Act), and (ii) as “flow-through critical mineral mining expenditures” (as defined in subsection 127(9) of the Tax Act) (collectively, the “Qualifying Expenditures”). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2026, and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2025.
Canaccord Genuity Corp acted as the Company’s financial advisor for the FT Offering. On the final tranche, the Company incurred cash finder’s fees of $50,250, issued 206,276 common shares (the “Compensation Shares”) for finder’s fees and advisor fees in lieu of cash and issued 223,332 compensation warrants (the “Compensation Warrants”) to eligible finders. Each Compensation Warrant is non-transferrable and entitles the holder to acquire one Common Share of the Company at $0.34 until August 22, 2027.
All securities issued in the final tranche of the private placement (including the Compensation Shares and Compensation Warrants), are subject to a hold period expiring on December 23, 2025.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About NorthWest Copper:
NorthWest Copper is a copper and gold exploration and development company with a pipeline of advanced and early-stage copper and gold projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market and the robust gold 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.
On Behalf of NorthWest Copper Corp.
“Paul Olmsted”
CEO, NorthWest Copper
For further information, please contact:
604-683-7790
info@northwestcopper.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to statements with respect to: the terms of the Private Placement; the anticipated use of proceeds; the anticipated insider participation in the Private Placement; the completion of the Private Placement; and the approval of the TSX Venture Exchange.
All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward-looking information are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual results to differ materially from NorthWest’s expectations include risks related to the completion of the Private Placement, including TSXV approval; risks associated with the business of NorthWest; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Company’s mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in NorthWest’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.com).
Forward-looking information is based on estimates and opinions of management at the date the information is made. NorthWest does not undertake any obligation to update forward-looking information except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information.
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