FOR IMMEDIATE RELEASE
Vancouver, BC - BCM Resources Corporation (TSX-V: B), the "Company" announces that it has closed the second tranche of its private placement financing previously announced on September 2, 2015. The Company issued 1,610,000 common shares at a price of $0.05 per share for gross proceeds of C $80,500.
The common shares issued under this non-brokered private placement, are subject to a four month hold period that expires on March 28, 2016. Proceeds will be used for general working capital purposes.
Certain insiders of the Company participated in this private placement by way of an arranged a sale of 832,000 shares at a price of $0.05 per share through the facilities of the TSX Venture Exchange. The proceeds from this sale have been used to fund the private placement of 832,000 common shares of BCM Resources Corporation at a price of $0.05.
The Company closed an initial tranche by issuing a total of 1,395,000 common shares for gross proceeds of C $69,750, as announced on October 06, 2015, and intends to close the final tranche by December 18, 215.
As previously announced the Company has been granted a been granted a final 30 day extension from the TSX Venture Exchange to complete the Non-Brokered private placement, announced on September 2, 2015, for proceeds of up to C$250,000, by issuance of up to 5 million common shares priced at C$0.05 per common share.
Certain insiders will be participating in the proposed 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 final 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 & CEO
For further information please contact:
Telephone: 1 (604) 646-0144, ext. 223
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.