- Bear Creek Mining (BCM) has closed a private placement for gross proceeds of C$3,542,160
- The company issued 3,542,160 common shares at $1.00 per share
- The company will use the proceeds to meet its general working capital requirements
- Bear Creek engages in the acquisition, exploration, and development of precious and base metal properties
- Bear Creek Mining Corp. (BCM) was down 5.56 per cent, trading at C$0.85 per share at 1:20 pm ET
Bear Creek Mining (BCM) has closed a private placement for gross proceeds of C$3,542,160.
The company issued 3,542,160 common shares at $1.00 per share. Directors and officers of the company subscribed for 2,000,000 shares, representing 56 per cent of the total subscribed shares in the private placement.
The shares are subject to a hold period and may not be traded until October 11, 2022. The company paid cash finder’s fees of $52,500.
The company will use these share proceeds to meet its general working capital requirements.
Bear Creek engages in the acquisition, exploration, and development of precious and base metal properties. The company’s projects include Corani Project and Maria Jose Project.
The Corani silver-lead-zinc deposit in Puno, Peru is one of the largest fully permitted silver deposits in the world. The property’s highlights are its substantial reserves and resources.
The company acquired its Mercedes gold-silver mine in Sonora, Mexico in April 2022. Mercedes is a cash flow generating gold mine with a strong track record of reserve replacement. The group has a business presence in Peru and Canada.
Bear Creek Mining Corp. (BCM) was down 5.56 per cent, trading at C$0.85 per share at 1:20 pm ET.
