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Bell Copper Announces Non-Brokered Private Placement, Big Sandy Drilling
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Bell Copper Corporation (...
About this update from Bell Copper Corporation
[{"type":"text","content":"Bell Copper Announces Non-Brokered Private Placement, Big Sandy DrillingVancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Bell Copper Corporation (TSXV: BCU) (OTCQB: BCUFF) (\"Bell Copper\" or the \"Company\") announces that it has arranged a non-brokered private placement to raise gross proceeds of up to CDN $3,000,000.00 (the \"Financing\").The Financing shall consist of up to 25,000,000 units (each, a \"Unit\") at a price of $0.12 per Unit. Each Unit will consist of one common share (\"Share\") and one share purchase warrant (a \"Warrant\"). Each Warrant will be exercisable into one additional Share at a price of $0.20 per share for a period of two years from the date of closing of the Financing (\"Closing\"). At the discretion of the Company, Warrants will be subject to an accelerated expiry upon the occurrence of a triggering event (\"Trigger Event\"). A Trigger Event shall occur when the VWAP for the Company's common shares on the TSX Venture Exchange (\"TSX-V\") is greater than $0.40 per share for a period of twenty (20) consecutive trading days. On the occurrence of a Trigger Event, at any time after four (4) months from the date of the issue of the Warrants, the Company may within twenty (20) days of such a Trigger Event (but is not required to do so), shorten the term of the Warrants by giving thirty (30) days' notice to the holders by way of a news release and written notification, in which case the Warrants shall expire within thirty (30) days of the date of dissemination of the news release.The securities issued pursuant to the Financing will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of Closing. The Company may pay finder's fees incidental to the Financing, as permitted by the policies of the TSX Venture Exchange.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. Closing shall be subject to receipt of all necessary corporate and regulatory approvals, including approval of the TSX-V. Big Sandy Copper DiscoveryEarly in 2022, the Company reported that drill hole BS-3 had discovered a porphyry copper deposit on its Big Sandy property in Arizona (refer to February 2, 2022 news release). While...