Mr. Dale McClanaghan reports
BCM RESOURCES CORPORATION COMPLETES FINANCING
BCM Resources Corp. has closed its non-brokered private placement financing previously
announced on Aug. 31, 2017, and most recently updated Nov. 17, 2017. The company
issued 11 million units at a price of 7.5 cents per unit for gross proceeds of $825,000.
Each unit is composed of one common share of the company and one share
purchase warrant. Each warrant entitles the holder to purchase one common
share of the company at a price of 15 cents for two years from the date of issue
(warrants expire Dec. 5, 2019).
The warrants are subject to an acceleration right in favour of the company: Should the closing
price of the common shares of the company on the TSX Venture Exchange, at any time
following the date that is four months after the date of issue be 35 cents or higher for 20
consecutive trading days, the company will be entitled to accelerate the expiration of the
warrants to the date that is 30 business days from the date of the issuance of a news release by
the company announcing the exercise of the acceleration right.
Finders' fees totalling $25,200 and 320,000 broker warrants were paid to certain finders and
comprise 8 per cent in cash and 8 per cent in broker warrants, of the amount placed by those finders. Each broker
warrant is exercisable into one common share of the company at an exercise price of 15
cents, expires Dec. 5, 2019, and is subject to the aforementioned acceleration right.
All shares and warrant shares are subject to a four-month hold period that expires on April 6,
2018. Proceeds will be used for general working capital.
The financing is subject to final approval by the TSX Venture Exchange.
About BCM Resources Corp.
BCM Resources is a diversified Canadian mineral exploration company focused on
identifying, acquiring, advancing and joint venturing prospective copper, gold and
molybdenum exploration projects in British Columbia and Utah. BCM Resources is managed by
experienced and successful board members and advisers.
We seek Safe Harbor.
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