Bell Copper Announces Second Tranche Closing of Non-Brokered Private Placement
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Vancouver, British Columbia--(Newsfile Corp. - June 18, 2024) - Bell Copper Corporation (TSXV: BCU) ("Bell Copper" or the "Company") is pleased to announce that further to its news releases of April 30 and June 3, 2024, the Company has now closed its second and final tranche of its non-brokered private placement (the "Financing").
In the second tranche, a total of 1,175,000 units ("Units") were issued at a price of $0.08 per Unit, raising gross proceeds of $94,000.00. The aggregate number of Units issued in the Financing were 3,181,530 Units, raising total gross proceeds of $254,522.50. Each Unit consists of one common share and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable into one additional common share at a price of $0.12 per share for a period of twelve months from the date of issuance.
The securities issued by the Company in the second tranche are subject to a statutory hold period which expires on October 19, 2024. Funds raised from the Financing will be used for the ongoing drilling and exploration program at the Company's 100% owned Big Sandy Porphyry Copper Project and for general working capital.
Crescat Capital LLC ("Crescat"), a >10% insider and significant shareholder of the Company, participated in the Financing for a total of 875,000 Units, which participation constituted a "related party transaction" for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied upon exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in completing the Financing with Crescat, on the basis that the fair market value of such participation was less than 25% of Bell's current market capitalization.
About Bell Copper
Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in Arizona. Bell Copper is exploring its 100% owned Big Sandy Porphyry Copper Project and the Perseverance Porphyry Copper Project which is under a Joint Venture - Earn In.
On behalf of the Board of Directors of
Bell Copper Corporation
"Timothy Marsh"
Timothy Marsh, President, CEO & Director
For further information please contact the Company
Tel: 1 800 418 8250
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.