N@N

PACIFIC &; WESTERN WITHDRAWS SHORT FORM PROSPECTUS OFFERING

^{Published on 2010-10-07 14:17:00 - Market Wire}
 

LONDON, ON, Oct. 7 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) has decided not to proceed with its previously announced plan to raise up to $15 million by way of short form prospectus, however, still plans to raise additional capital by way of private placement.

Pacific & Western Bank of Canada (PWBank), a Canadian Schedule I chartered bank, is a branchless financial institution. PWBank specializes in providing financing throughout Canada to well established corporations and government entities, including hospitals, school boards, universities and colleges, municipalities, provinces and territories, and federal government agencies.

Pacific & Western Bank of Canada is wholly owned by Pacific & Western Credit Corp., whose shares trade on the TSX under the symbol PWC.

Investor Relations: Wade MacBain, Director (800) 244-1509, [ wadem@pwbank.com ];

Public Relations & Media: Tel Matrundola, Vice-President, (866) 787-9936, [ telm@pwbank.com ]

To receive company news releases, please contact:

Carla McPhee at [ carlam@pwbank.com ], (519) 675-4204