Aurwest Resources Corporation Announces Non-Brokered Private Placement to Raise Over $1.2 Million

Aurwest Resources Corporation, based in Calgary, AB, revealed plans for a non-brokered private placement aimed at raising up to CAD$1,250,068. This financial initiative includes the distribution of up to 15,429,993 flow-through shares at $0.03 each, alongside up to 39,358,402 units at $0.02 per unit. The company intends to use the proceeds to fund exploration efforts and for general corporate purposes, with a focus on advancing the exploration of its Stars property.

Each flow-through share, priced at $0.03, will channel proceeds towards Canadian exploration expenses and critical mineral mining expenditures. These endeavors are designated under the Income Tax Act (Canada), with the company planning to renounce such expenditures to subscribers by the end of 2024.

The offering includes units comprising a common share and half a common share purchase warrant, with each warrant allowing the purchase of an additional common share at $0.05 for two years post-issuance. The initiative incorporates a conditional warrant conversion should the average trading price of Aurwest's shares exceed $0.10 for a consecutive ten-day period.

The planned private placement is applicable to qualified investors across Canada—except Québec—and will adhere to National Instrument 45-106 - Prospectus Exemptions. The offer also extends to the United States and other international jurisdictions under respective private placement exemptions.

Aurwest anticipates participation from directors, officers, and insiders in the offering, with transactions involving related parties to comply with CSE Policies and MI 61-101 regulations. These securities are not registered under the U.S. Securities Act of 1933 and are subject to specific offering and resale regulations.