PrimeWest Exploration Inc. announced that it expects to receive CAD 0.40 million in funding.
On November 12, 2012, the company has received approval from TSX Venture Exchange for the first tranche of 6,450,000 shares. The deal will see participation from 21 placees. As a part of the deal, Harris L. Dvorkin will subscribe to 360,000 shares, Charles W. will subscribe to 500,000 shares, Chapman Victor will subscribe to 500,000 shares, Luhowy Ken will subscribe to 500,000 shares, Macritehia Harris L. will subscribe to 640,000 shares, and Dvorkin Francis J. Reinhardt will subscribe to 500,000 shares.
On November 14, 2012, the company closed the first tranche of the transaction. The shares issued are subject to a hold period expiring on March 15, 2013. The company paid finder's fees to Macquarie Private Wealth Inc.