Bell Copper Closes Final Tranche of Non-Brokered Private Placement
VANCOUVER, B.C. - Bell Copper Corporation (“Bell Copper” or the “Company”) (TSX-V: BCU) reports that it has filed for final acceptance with the TSX Venture Exchange for its previously announced (see Bell Copper’s news releases dated December 9 and December 19, 2019) Non-Brokered Private Placement Unit Financing and will be issuing 3,072,000 Units in this final tranche closing, for a total of 8,694,000 Units issued and total proceeds of $434,700.
Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of eight cents ($0.08) per share at any time within 24 months of the date of issuance, subject to the right of the Company to accelerate the exercise period of the Warrants if common shares of the Company trade at or above $0.40 for fifteen (15) consecutive trading days.
All securities to be issued under this private placement are subject to a four-month hold legend.
The proceeds of the private placement will be allocated toward the acquisition of additional exploration project(s) as well as for general working capital purposes.
About Bell Copper
Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in a region responsible for 10% of the world's copper production: Arizona.
Perseverance Porphyry Copper Project
A primary focus for Bell Copper is the ongoing exploration and development at the Perseverance Porphyry Copper Project near Kingman, AZ, where we are pursuing the faulted-off top of a major porphyry copper system, the bottom of which is exposed in the foothills 8+ km west of the Company's property.
On behalf of the Board of Directors of
Bell Copper Corporation
Timothy Marsh, President, CEO & Director
For further information please contact the Company
Tel: 1 800 418 8250
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.