Bell Copper Announces Closing of Second and Final Tranche of its Non-Brokered Private Placement
June 21, 2021
News Release
Bell Copper Corporation - TSX.V Symbol: BCU
Bell Copper Announces Closing of Second and Final Tranche of its Non-Brokered Private Placement
VANCOUVER, B.C. - Bell Copper Corporation (TSX-V: BCU) (“Bell Copper” or the “Company”) announces that further to its news releases of June 9 and June 11, 2021, the Company has now closed the second and final tranche (“Second Tranche”) of its non-brokered private placement to raise gross proceeds of CDN $2,000,000.00 (the “Financing”).
In the Second Tranche, the Company issued 6,586,667 units (“Units”) at a price of $0.15 for total gross proceeds of $988,000.00. 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 $0.25 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 Trigger Event as described in its June 9, 2021 news release.
The securities issued by the Company in this Second Tranche of the Financing are subject to a statutory hold period which expires on October 18, 2021. The Company paid cash finder’s fees of $12,000 incidental to the financing, as permitted by the policies of the TSX Venture Exchange. The 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.
Tim Marsh, Bell’s President and CEO, and a Qualified Person as defined by NI43-101 said, “I want to thank the participants in this current funding along with Bell’s shareholders for the strong financial endorsement that their investments in Bell represent. Our ongoing drill program at Big Sandy now has the funding to complete drilling of the first four holes into this new copper-molybdenum porphyry discovery. We look forward to delivering results from this Big Sandy drilling as well as from future drilling at Perseverance by our joint venture partner”.
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: info@bellcopper.net
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.
