Bear Creek Mining Corporation (TSX-V: BCM) (BVL: BCM) announces the bought deal financing announced on February 6, 2020 has closed. BMO Capital Markets acted as lead underwriter of the Offering, with participation by Canaccord Genuity Corp. and Paradigm Capital Inc. Pursuant to the Offering, the Company issued a total of 7,145,000 Common Shares, at a price of Cdn $2.10 per Common Share for gross proceeds of Cdn $15,004,500. The Underwriters also partially exercised their over-allotment option to acquire an additional 760,000 Common Shares for additional gross proceeds of Cdn $1,596,000. Including the proceeds from the exercise of the over-allotment option, the total gross proceeds of the Offering were Cdn $16,600,500 with a total of 7,905,000 Common Shares being issued. The Underwriters received a cash fee equal to 6% of the gross proceeds of the Offering.
The Company intends to use the net proceeds from the Offering to carry out early development works at its wholly owned Corani silver-lead-zinc deposit located in the department of Puno, Peru.
The Offering was made pursuant to the Company’s base shelf prospectus dated September 12, 2018. The terms of the Offering were described in a prospectus supplement filed on February 10, 2020 with securities regulators in each of the provinces and territories of Canada, other than Quebec, and may also be offered by way of private placement in the United States.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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We acknowledge the [financial] support of the Government of Canada.