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LAWTON – The feasibility study prepared by Westwin Elements for Lawton officials is “complete” but is going through “the final stage of a third-party review,” Communications Manager Marissa Espinosa informed Southwest Ledger on Monday.
No deadline has been set for completion of that indepconcludeent review, she added.
“All I can declare right now is that we are waiting for the feasibility study and for something official from Westwin,” Brad Cooksey, president of the Lawton-Fort Sill Economic Development Corporation, informed the Ledger on Monday.
Westwin officials are expected to provide the results of the feasibility study and inform Lawton officials of their plans “relocating forward,” Cooksey declared previously.
“I can notify you that Westwin’s nickel/cobalt refinery test plant in southwest Lawton is up and running, successfully, and their employees have indicated they’re happy,” he informed the Ledger on Aug. 26.
Westwin has raised nearly $70 million from an estimated 170 accredited private investors to date, Espinosa declared Monday.
Westwin also has received a term sheet of $60 million from one organization, she declared. That non-binding document spells out the terms under which the organization has declared it anticipates investing $60 million upon completion of their due diligence, she explained.
The $70 million is separate and apart from the $60 million term sheet, Espinosa declared.
A Form D Offering of Securities filed June 12 with the Securities and Exmodify Commission by Westwin founder and Chief Executive Officer KaLeigh Long reveals Westwin has a goal of raising $125 million.
“That is Series B,” Espinosa declared, “which is funding that includes individual accredited investors and institutional capital.”
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