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File: Bellhaven - News Release announcing new private placement (Feb 23, 2016) (4).DOCX

 

Bellhaven Announces New Private Placement

Vancouver, B.C. - February 23, 2016.  Bellhaven Copper & Gold Inc. (TSX-Venture: BHV) ("Bellhaven" or the "Company") a
--->nnounces that it will not be proceeding with the private placement as disclosed in its news release of December 8, 201
--->5.  In its place the Company intends to proceed with a new non-brokered private placement of up to 40,000,000 units (t
--->he "Units") at $0.05 per Unit for gross proceeds of up to $2,000,000 (the "Offering").

Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one Common Share purch
--->ase warrant (a "Warrant").  Each Warrant will entitle the holder to purchase one additional Common Share (a "Warrant S
--->hare") at a price of $0.07 per Warrant Share for a period of five years from the closing of the Offering.

Finder's fees may be payable in connection with the completion of the Offering in accordance with TSX Venture Exchange
---> ("TSXV") policies.  Closing of the Offering is subject to a number of conditions, including receipt of all necessary 
--->corporate and regulatory approvals, including the TSXV.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a
---> day from the date of issuance in accordance with applicable securities legislation.  The proceeds from the Offering w
--->ill be used for general working capital purposes.


On behalf of the board of directors,
Julio C. Benedetti CEO and Executive Chairman BELLHAVEN COPPER & GOLD INC.
Corporate Contact in North America:                Mrs. Milagros "Millie" Paredes, President/Director   U.S. Tel:  (97
--->1) 344-1500      mparedes@bellhavencg.com     
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.