Sign Up

NorthWest Upsizes Flow Through Financing to $4.1 Million and Closes Final Tranche

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Aug. 25, 2025 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. ("NorthWest" or "the Company") (TSXV: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 ...