Bear Creek Mining Corporation (TSX-V: BCM) (BVL: BCM) is pleased to announce that the bought deal financing announced on January 6, 2021 has closed. The Offering was conducted by a syndicate of underwriters led by Stifel GMP, and including BMO Capital Markets and Canaccord Genuity Corp.
Pursuant to the Offering, the Company issued a total of 10,000,000 common shares at a price of C$3.00 per Common Share for gross proceeds of C$30 million. The Underwriters also exercised their over-allotment option in full to purchase an additional 1,500,000 Common Shares for additional gross proceeds of C$4.5 million. Including the proceeds from the exercise of the over-allotment option, the total gross proceeds of the Offering is C$34.5 million with an aggregate of 11,500,000 Common Shares being issued.
The net proceeds from the Offering will be used for ongoing development activities at the Corani silver-lead-zinc project and for general corporate purposes.
The Offering was completed pursuant to the Company’s base shelf prospectus dated October 29, 2020. The terms of the Offering were described in a prospectus supplement filed on January 8, 2021 with securities regulators in each of the provinces and territories of Canada, other than Québec. The Common Shares were also offered and sold in the United States to certain purchasers, who are, or are purchasing for the account or benefit of, one or more U.S. persons or persons in the United States, each of whom qualifies as a “qualified institutional buyer” as defined in Rule 144A under the United States Securities Act of 1933, as amended (the “1933 Act”).
The securities issued under the Offering have not been and will not be registered under the 1933 Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable state securities laws. This press release shall not constitute an offer of securities for sale or a solicitation for offers to buy any securities nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. “United States” and “U.S. person” are as defined in Regulation S under the 1933 Act.
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We acknowledge the [financial] support of the Government of Canada.