07:31:13 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



BCM Resources Corp
Symbol B
Shares Issued 21,532,011
Close 2015-11-27 C$ 0.06
Market Cap C$ 1,291,921
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BCM closes $80,500 second tranche of financing

2015-11-27 19:09 ET - News Release

Mr. Dale McClanaghan reports

BCM RESOURCES CORPORATION COMPLETES SECOND TRANCHE OF FINANCING

BCM Resources Corp. has closed the second tranche of its private placement financing previously announced on Sept. 2, 2015. The company issued 1.61 million common shares at a price of five cents per share for gross proceeds of $80,500.

The common shares issued under this non-brokered private placement are subject to a four-month hold period that expires on March 28, 2016. Proceeds will be used for general working capital purposes.

Certain insiders of the company participated in this private placement by way of an arranged a sale of 832,000 shares at a price of five cents per share through the facilities of the TSX Venture Exchange. The proceeds from this sale have been used to finance the private placement of 832,000 common shares of BCM Resources at a price of five cents.

The company closed an initial tranche by issuing a total of 1,395,000 common shares for gross proceeds of $69,750, as announced on Oct. 6, 2015, and intends to close the final tranche by Dec. 18, 2015.

As previously announced, the company has been granted a been granted a final 30-day extension from the TSX Venture Exchange to complete the non-brokered private placement, announced on Sept. 2, 2015, for proceeds of up to $250,000, by issuance of up to five million common shares priced at five cents per common share.

Certain insiders will be participating in the proposed private placement. The company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Section 5.5(a) and Section 5.7(1)(a) of MI 61-101 in respect of any insider participation.

The financing is subject to final approval by the TSX Venture Exchange.

We seek Safe Harbor.

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