On September 7, 2022, NorthWest Copper Corp. completed the third issuance of Consideration Shares (“Tranche 3”) to POSCO International Corporation (“POSCO”) pursuant to the previously announced agreement whereby NorthWest agreed to purchase POSCO’s approximately 31% interest in Kwanika Copper Corporation (“KCC”) for total consideration of C$11 million (the “Transaction”), payable in shares of NorthWest (the “Consideration Shares”). KCC is a British Columbia corporation which owns 100% of the Kwanika project. Following the completion of the issuance of all Consideration Shares, KCC has become a wholly-owned subsidiary of NorthWest, and NorthWest now owns a 100% interest in the Kwanika project.
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