FOR IMMEDIATE RELEASE
August 31th, 2017
BCM Resources Corporation Announces Financing
Vancouver, BC - BCM Resources Corporation (TSX-V: B), the "Company" is pleased to announce a Non-Brokered private placement financing for proceeds of up to C$825,000 through the issuance of up to 11,000,000 units ("Units") priced at C$0.075 per Unit. Each Unit is comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one common share of the Company at a price of C$0.15 for two years from the date of issue.
The Warrants (and Broker's warrants) are subject to an acceleration right in favor of the Company: should the closing price of the common shares of the Company on the TSX Venture Exchange, at any time following the date that is four months after the date of issue be $0.35 or higher for 20 consecutive trading days, The Company will be entitled to accelerate the expiration of the warrants to the date that is 30 business days from the date of the issuance of a news release by the Company announcing the exercise of the acceleration right.
The Company will pay Finder's Fees of 8% cash and 8% Broker's warrants.
All the securities issuable will be subject to a four-month hold period from the date of issue.
Proceeds from the financing will be allocated toward for general working capital purposes including costs of maintaining the Company's mineral tenures, office administration and overhead, legal fees and auditor's fees.
Certain insiders may be participating in the private placement and there may be arranged trades in connection with this proposed transaction, whereby certain insiders may arrange a sale of common shares, and use the proceeds to subscribe for Units in this private placement. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of any Insider Participation. The financing is subject to approval by the TSX Venture Exchange.
About BCM Resources Corporation
BCM Resources Corporation is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, and joint venturing prospective Copper, Gold, and Molybdenum exploration projects in British Columbia and Utah. BCM Resources is managed by experienced and successful board members and advisors. For further information, including area maps, sections, and photos, please visit our web site at www.bcmresources.com or contact us by e-mail at email@example.com.
On Behalf of the Board of Directors:
President & Chief Executive Officer
For further information please contact:
Telephone: 1 (604) 646-0144, ext. 222
Caution Concerning Forward-Looking Statements
This news release and related texts and images on BCM Resource Corporation's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work. Forward-looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs.
Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. BCM Resources Corporation undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.
This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.