LAWTON – As the 90-day deadline for WestwinElements to submit a feasibility study to city officials nears, rumors surfaced that the company plans to relocate to Georgia.
“We should be hearing from them in the next two weeks,” Brad Cooksey, president of the Lawton-Fort Sill Economic Development Corporation, told Southwest Ledger on Monday.
In two weeks Westwin officials are expected to provide the results of a feasibility study and inform Lawton officials of their plans “moving forward,” Cooksey said. “I cannot say much, but I can tell you that Westwin’snickel/cobalt refinery test plant in southwest Lawton is up and running, successfully, and their employees have indicated they’re happy.”
Westwin has raised $2.2 million from 13 accredited private investors to date, Communications Manager Marissa Espinosa told Southwest Ledger on Tuesday.
Westwin also has received a term sheet of $60 million from one organization, she said. That non-binding document spells out the terms under which the organization has said it anticipates investing $60 million upon completion of their due diligence, Ms. Espinosa said.
A Form D Offering of Securities filed June 12 with the Securities and Exchange Commission by Westwin founder and Chief Executive Officer KaLeigh Long shows Westwinhas a goal of raising $125 million.