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SALT LAKE CITY, UT–(Marketwire – May 4, 2011) – America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has closed its previously reported private placement, raising total gross proceeds of approximately $4.5 million. The terms of the private placement provided for the issuance of 4.5 million shares of common stock offered at $1.00 per share.

New York City-based John Thomas Financial acted as the placement agent for the offering.

In addition, early last month America West Resources filed a Form 8-K with the U.S. Securities and Exchange Commission detailing that it had arranged for the conversion of approximately $5.0 million from debt to equity at a conversion price of $1.00 per share.

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Article source: http://www.marketwire.com/press-release/america-west-resources-completes-45-million-financing-converts-5-million-debt-equity-otcbb-awsr-1509826.htm