American West Metals: Raises $2.7m for exploration

American West Metals Raises $2.7m for exploration

• American West Metals (AW1) completes a private placement and raises nearly $2.7 million
• The money was raised through the issue of more than 21.45 million shares to institutional, sophisticated and professional investors at a price of 12.5 cents each
• Participants also received one free attaching option for every two shares subscribed for, exercisable at 20 cents with an expiry date two years after issue
• AW1 will use the money to undertake exploration and development activities at its West Desert, Storm/Seal and Copper Warrior projects
• AW1 ends the day 13.3 per cent in the red with shares trading at 13 cents