Bell Copper Corporate Updates

About this update from Bell Copper Corporation

[{"type":"text","content":"\n\n\n\n Feb. 7, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX-V Symbol: BCU\n\n\nVANCOUVER, Feb. 7 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper" or the "Company") (TSX-V Symbol: BCU) is pleased to\n provide updates on a number of corporate matters.\n\n\nAfter careful consideration and after discussion with numerous\n stakeholders, the Company's management and Board of Directors have\n decided that the shareholder's interests are best served if the Company\n does not proceed with its previously announced plans to spin out its\n Kabba and Sombrero Butte exploration properties into a separate\n company. \n\n\nThe Company is also pleased to announce that it has entered into a new\n letter of intent ("LOI") with Macquarie Bank Limited ("Macquarie") that\n further amends the debt restructuring terms previously announced on\n October 7, 2010.  The Company has recently made two payments to\n Macquarie of $400,000 in October and a subsequent $1.35 million payment\n in November on its Bell Demand Debenture.  A further $500,000 payment\n has now been made, and the remaining amount of $830,247.81 (including\n accrued interest) to repay the facility in full will be due on February\n 28, 2011.\n\n\nThe new LOI also revises the settlement terms of the Rogue River\n Canadian dollar debenture.  This debenture with Bell's wholly owned\n subsidiary, which totalled approximately $4.1 million at December 31,\n 2010, is to be...

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