- American West Metals (AW1) completes a $7.8 million equity raising to accelerate exploration at its Storm copper project in Canada
- Placement shares were priced at 19 cents each, a 20 per cent premium to the closing price on July 10
- An additional $1 million was secured through an institutional placement at 14 cents per share
- AW1 to accelerate activities and resource drilling at the near-surface deposits within its Storm project
- AW1 last traded at 16 cents
American West Metals (AW1) has completed an equity raising of $7.8 million to fast-track exploration at its Storm copper project in Canada.
Through an FTS placement, AW1 shares were priced at 19 cents apiece, representing a 20 per cent premium to the closing price on July 10, 2023.
An additional $1 million will be raised through an institutional placement, with shares priced at 14 cents each, a 12.5 per cent discount to the closing price on July 10, 2023.
The funds allow American West Metals to accelerate activities and resource drilling at the near-surface deposits within its Storm project.
AW1 Managing Director Dave O’Neil said the company was “delighted” with the support from investors.
“This funding will allow the company to further ramp up exploration and resource drilling activities at the near-surface deposits at Storm – already shaping-up as a very significant copper deposit – and to implement an expanded diamond drill program to test the large geophysical targets that could unlock the full potential at Storm,” he said.
American West Metals traded at 16 cents.