Not for distribution to U.S. news wire services or dissemination in the United States.
February 18, 2020 Vancouver, B.C. - Bear Creek Mining Corporation (“Bear Creek” or the “Company”) (TSXV:BCM) (BVL:BCM) announces the bought deal financing announced on February 6, 2020 (the “Offering”) has closed. BMO Capital Markets acted as lead underwriter of the Offering, with participation by Canaccord Genuity Corp. and Paradigm Capital Inc. (together, the “Underwriters”). Pursuant to the Offering, the Company issued a total of 7,145,000 Common Shares (the “Common Shares”), at a price of Cdn $2.10 per Common Share for gross proceeds of Cdn $15,004,500. The Underwriters also partially exercised their over-allotment option to acquire an additional 760,000 Common Shares for additional gross proceeds of Cdn $1,596,000. Including the proceeds from the exercise of the over-allotment option, the total gross proceeds of the Offering were Cdn $16,600,500 with a total of 7,905,000 Common Shares being issued. The Underwriters received a cash fee equal to 6% of the gross proceeds of the Offering.
The Company intends to use the net proceeds from the Offering to carry out early development works at its wholly owned Corani silver-lead-zinc deposit located in the department of Puno, Peru.
The Offering was made pursuant to the Company’s base shelf prospectus dated September 12, 2018. The terms of the Offering were described in a prospectus supplement filed on February 10, 2020 with securities regulators in each of the provinces and territories of Canada, other than Quebec, and may also be offered by way of private placement in the United States.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
President and CEO
For further information contact:
Barbara Henderson – Investor Relations
Direct: 604-628-1111 E-mail: firstname.lastname@example.org
This news release contains forward-looking statements regarding the use of proceeds of the Offering and continued development of the Corani Property. These forward-looking statements are provided as of the date of this news release, or the effective date of the documents referred to in this news release, as applicable, and reflect predictions, expectations or beliefs regarding future events based on the Company’s beliefs at the time the statements were made, as well as various assumptions made by and information currently available to them. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to, that general economic and business conditions will not change in a materially adverse manner. Although management considers these assumptions to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions expressed above do not occur, but specifically include, without limitation, risks relating to general market conditions and the additional risks described in the Company’s final short form base shelf prospectus dated September 12, 2018 and prospectus supplement dated February 10, 2020, the Company’s latest Annual Information Form, and other disclosure documents filed by the Company on SEDAR. The foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.