Mr. Timothy Marsh reports
BELL COPPER ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
Bell Copper Corp., further to its news release of Jan. 22, 2024, has now closed its non-brokered private placement.
Due to heightened interest by investors, the company closed on an increased number of units in the financing from what was originally announced and issued a total of 2,868,550 units at a price of
eight cents per unit for total gross proceeds of $229,484. Each unit consists of one common share and one
common share purchase warrant. Each warrant will be exercisable into one additional
common share at a price of 12 cents per share for a period of two years from the date of closing of the
financing.
Incidental to the financing, the company paid finders' fees of $4,560 cash and issued 57,000 finders'
warrants to certain brokers, as permitted by the policies of the TSX Venture Exchange. Each finder's
warrant entitles the holder to purchase one additional common share of the company at a price of 12
cents for a period of two years from the date of closing.
The securities issued by the company are subject to a statutory hold period that expires on May 31,
2024. Funds raised from the financing will be used for the continuing drilling and exploration program at
the company's 100-per-cent-owned Big Sandy porphyry copper project and for general working capital.
An officer of the company participated in the offering for a total of 50,000 units, which participation
constituted a related party transaction for the purposes of Multilateral Instrument 61-101, Protection
of Minority Security Holders in Special Transactions. The company relied upon exemptions
from the formal valuation and minority shareholder approval requirements of MI 61-101 in completing
the financing with the officer, on the basis that the fair market value of such participation was less than
25 per cent of Bell's current market capitalization.
About Bell Copper Corp.
Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of
large copper deposits located in Arizona. Bell Copper is exploring its 100-per-cent-owned Big Sandy porphyry
copper project and the Perseverance porphyry copper project, which is under a joint venture earn-in.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.