An anonymous director reports
CHAMPION BEAR ANNOUNCES EQUITY OFFERING
Champion Bear Resources Ltd. intends to complete a private placement for up to five million common shares of the company at a price of 20 cents per share for total gross proceeds of up to $1-million, subject to receipt of all applicable regulatory approvals.
Champion Bear intends to use the proceeds of the offering to further exploration programs on its wholly owned Eagle Rock copper-gold-platinum-palladium property and Plomp Farm property, which are both located near Dryden, Ont., and for general corporate purposes. Jessica Borysenko, professional geoscientist, a qualified person under National Instrument 43-101, Champion Bear's consulting geologist and a director of the company, will be overseeing the exploration programs.
All securities issuable under the private placements will be subject to a hold period of four months and one day from the closing date.
About Champion Bear Resources Ltd.
Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The company's primary targets are platinum group metals, precious metals and polymetallic base metals deposits. Champion Bear's aim is to create shareholder value through selective property acquisition, followed by focused exploration emphasizing drilling. The company has assembled a large land position in the Dryden and Sudbury areas, totalling over 16,000 hectares.
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