NWM Mining closes $311,440 financing

2009-02-04 11:04 ET - News Release

An anonymous director reports

NWM MINING CORPORATION CLOSES OVER-SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

NWM Mining Corp. has closed its private placement financing, reported in Stockwatch on Jan. 28, 2009, of five million units at five cents per unit and an oversubscription of 1,024,000 units at six cents per unit. Gross proceeds of $311,440 have been received. This represents 6,024,000 units with each unit consisting of one common share of NWM and one common share purchase warrant. Each warrant is exercisable for one NWM share at a price of 10 cents until Aug. 4, 2010.

The common shares and warrants comprising the units will be subject to a hold period, ending June 5, 2009, of four months plus one day from the date of issuance in accordance with the policies of the TSX Venture Exchange and applicable securities laws. The private placement offering is subject to regulatory approval and the completion of definitive documentation.

Finder's fees totalling $21,300 have been paid in relation to this private placement. Proceeds of the offering will be used for general working capital. Directors and insiders have subscribed for 12 per cent of this private placement financing.

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