The North West Company Inc.
TSX : NWF.UN

The North West Company Inc.

June 15, 2009 17:25 ET

North West Company Fund Closes US$70 Million 6.55% Senior Notes Offering

WINNIPEG, MANITOBA--(Marketwire - June 15, 2009) - North West Company Fund (the "Fund") (TSX:NWF.UN) is pleased to announce the successful closing of the previously announced private placement offering of US$70 million 6.55% Senior Notes from the Fund's subsidiaries and affiliates, The North West Company Inc. (the "Company"), The North West Company LP, North West Company Holdings Inc. and NWC (U.S.) Holdings Inc. The US$70 million 6.55% Senior Notes will mature on June 15, 2014.

The net proceeds of the Senior Notes offering will be used to retire the remaining US$39 million 5.89% Senior Notes which mature on June 15, 2009, to reduce bank debt and for general corporate purposes.

The North West Company is a leading retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean. North West operates 225 stores under the trading names Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U-Less and has annualized sales of CDN $1.4 billion.

The units of the Fund trade on the TSX Toronto Stock Exchange under the symbol "NWF.UN".

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