BCM Resources arranges $7.24-million private placement

Executive Summary

• BCM Resources Corp. has arranged a non-brokered private placement financing raising gross proceeds of $7.24 million.
• The transaction involves the issuance of 36.2 million units priced at $0.20 per unit, with each unit comprising one common share and one common share purchase warrant.
• Net proceeds will be directed toward working capital and to continue mineral exploration drilling at the Thompson Knolls porphyry Cu-Au-Mo discovery project in Utah.

Key Details

• Gross Proceeds: $7.24 million
• Units Issued: 36.2 million units
• Price per Unit: $0.20
• Warrant Terms: Each unit includes one warrant exercisable at $0.30 per share for a period of one year from the date of issue
• Acceleration Clause: If the share price is $0.45 or higher for 20 consecutive trading days after four months and one day from closing, the issuer may accelerate warrant expiration to 30 business days following a news release announcing the acceleration
• Hold Period: All securities subject to a four-month hold period from the date of issue
• Regulatory Approval: Financing is subject to approval by the TSX Venture Exchange
• Finders' Fees: 5% paid in cash and 5% paid in broker warrants of proceeds raised
• Use of Proceeds: Working capital and continued mineral exploration drilling at the Thompson Knolls (TK) porphyry Cu-Au-Mo discovery project located in west-central Utah