Business
Champion Bear announces equity offerings
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Champion Bear Resources Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES./\n\n\nCALGARY, July 14 /CNW/ - (TSX Venture: CBA), Champion Bear Resources Ltd.\n("Champion Bear" or the "Company") announced today that it intends to complete\nthe following private placements, subject to receipt of all applicable\nregulatory approvals:\n\n\n(i) up to 1,600,000 common shares of the Corporation at a price of\n $0.50 per share for total gross proceeds of up to $800,000; and\n\n(ii) up to 3,000,000 flow-through common shares of the Corporation at a\n price of $0.60 per share for total gross proceeds of up to\n $1,800,000.\n\n\nChampion Bear intends to use the proceeds of the offerings for its\nexploration programs on its wholly-owned Eagle Rock Cu-Au-PGE Property located\nnear Dryden, Ontario and its wholly-owned Iron Mask Property located in\nSudbury, Ontario and for general corporate purposes. At the Eagle Rock\nProperty, Champion Bear intends to undertake a resource definition exploration\nprogram which will include the diamond drilling of up to 10,000 metres. In the\nSudbury area, work at Iron Mask includes the follow-up of recent IP anomalies\nwhich are coincident with surface outcroppings of Cu bearing Sudbury breccia\nby drilling three to five holes (up to 1,500 metres) to test the main targets\nand the completion of additional detailed surface surveys in the area.\nJoe Hinzer, P. Geo., a qualified person, of WGM, Champion Bear's consulting\ngeologists, will be overseeing the exploration programs.\n\n\nAll of the common shares issuable under the shares for debt settlement\nand the private placements will be subject to a hold period of four months and\none day from the closing date.\n\n\nThis news release shall not constitute an offer to sell or the\nsolicitation of any offer to buy the securities in any jurisdiction. The\nsecurities offered have not been and will not be registered under the United\nStates Securities Act of 1933, as amended (the "U.S. Securities Act"), and may\nnot be offered or sold within the United States or to, or for the account or\nbenefit of, U.S. persons except in certain transactions exempt from the\nregistration requirements of the U.S. Securities Act.\n\n\nChampion Bear is a mineral exploration company focused exclusively on the\nhistorical...