Mr. Richard Kantor reports
CHAMPION BEAR COMPLETES EQUITY OFFERING
Champion Bear Resources Ltd. has completed a private placement of 150,000 common shares of the corporation at a price of 20 cents per share for total gross proceeds of $30,000.
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 located near Dryden, Ont., and for exploration work on its wholly owned and joint venture properties in the Sudbury mining camp, Ontario, and for general corporate purposes. Jessica Borysenko, PGeo, 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 placement will be subject to a hold period of four months and one day from the closing date.
About Champion Bear
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-metal 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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