Pacific North West Capital Closes 2nd Tranche Private Placement
March 28, 2016 Vancouver, Canada – Pacific North West Capital Corp. (“PFN” and the “Company”)
| (TSX.V: PFN; Frankfurt: P7J.F; OTC Pink: PAWEF | announces that further to its news releases dated | |
| September 18, 2015, December 1, 2015 and January 18, 2016, the Company has oversubscribed and | ||
| closed the 2nd tranche of its private placement raising $328,105 | by way of a combined flow‐through |
(“FT”) and non flow‐through (“NFT”) units.
The Company issued 19,873,663 Non Flow Through units (NFT Units) at a price of $0.015 per NFT Unit and 1,500,000 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 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.
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 736,666 units on the same terms as the Units.
All securities issued in connection with the private placement are subject to a four month and a day hold period expiring on July 29, 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 continues to evaluate PGM and nickel‐copper properties and projects in North America for potential acquisition opportunities.
News Release 1
About River Valley PGM Project
River Valley is one of the largest primary PGM Projects in Canada. NI43‐101 compliant near‐surface
resources are: 26 Mt grading 1.5 g/t PdEq for 1.2 Moz contained PdEq in the measured category; 66 Mt grading 1.4 g/t PdEq for 2.8 Moz contained PdEq in the indicated category; and 36 Mt grading 1.1 g/t PdEq for 1.2 Moz contained PdEq
in the inferred category (see PFN’s website for details).
The Project is located within 100 road‐km of Sudbury and is readily accessible via paved and gravel roads with settlements, power and rail all nearby. The River Valley PGM deposit is overlain by mining leases owned 100% by PFN. Exploration upside is enormous, particularly at depth.
QUALIFIED PERSON
The technical content of this new release has been prepared, reviewed and approved by Dr. William Stone, P.Geo., principal consulting geologist to Pacific North West Capital Corp. and a Qualified Person under the . provisions of National Instrument 43‐101.
Figure 2. Location of the River Valley PGM Project, Ontario.
On behalf of the Board of Directors
Further Information: Tel: +1.604.685.1870 Fax: +1.604.685.8045 Email: [email protected], or visit www.pfncapital.com Suite 101 – 2148 West 38th Ave., Vancouver, BC, V6M 1R9
Harry Barr Chairman and CEO
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 Note Regarding Forward Looking Statements. This release contains forward‐looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward‐looking statements. In addition, forward‐looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward‐looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward‐looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward‐looking statements.
News Release 2