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Financings

Bear Creek Mining Announces Drawdown of Funds Under 2025 Sandstorm Note

By The Northwire Desk — AI Analysis Oct 09, 2025 · 08:01 BCM · 0.70 Bear Creek Mining Corporation
BCM · Price

Executive Summary

  • Bear Creek Mining Corporation drew US$1.2 million on October 8, 2025 from its existing 2025 Sandstorm secured promissory note (“Sandstorm Note”).
  • The Sandstorm Note has a total principal capacity of US$6.5 million, with cumulative draws to date now totaling US$5.4 million; up to US$1.1 million remains available subject to Sandstorm’s approval.
  • The drawn funds are earmarked for general working‑capital purposes and the note bears interest at 7% per annum, maturing on September 22, 2028.

Key Details

  • Note Terms: Secured promissory note issued May 8, 2025 to a wholly owned subsidiary of Sandstorm Gold Ltd.; maximum principal US$6.5 million; draw limit US$600,000 per month.
  • Current Draw: US$1.2 million drawn on October 8, 2025 (the “Draw”).
  • Cumulative Funding: Total draws to date equal US$5.4 million. Remaining undrawn capacity is up to US$1.1 million, subject to Sandstorm’s discretion.
  • Interest Rate & Maturity: 7% per annum; maturity September 22, 2028. Interest payments for June–November 2025 are deferred until December 31, 2025.
  • Use of Proceeds: General working‑capital purposes.
  • Historical Draws Referenced: Prior draw announcements on March 4, May 8, May 22, July 16, and August 5, 2025.
  • Going‑Concern Disclosure: Q2 2025 interim financial statements show a working‑capital deficiency of US$91.7 million; the company lacks sufficient funds to cover this deficit, indicating material uncertainty regarding its ability to continue as a going concern without additional financing.

Notable Quotes

  • “The Draw will be used for general working capital purposes.” – Eric Caba, President and Chief Executive Officer

(All boilerplate, forward‑looking statements, and disclaimer text have been omitted.)

Read the original news release →

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