BOWMORE Announces Private Placement
20 Dezembro 2013 - 7:00PM
Marketwired
BOWMORE Announces Private Placement
MONTREAL, QUEBEC--(Marketwired - Dec 20, 2013) - BOWMORE
Exploration Ltd. (TSX-VENTURE:BOW) (the "Company") is pleased to
announce that it has negotiated, subject to regulatory approval, a
non-brokered private placement (the "Private Placement") for total
gross proceeds of up to $600,000 (the "Private Placement"). The
Private Placement will consist of up to 4,615,385 units (the
"Units") at a price of $0.13 per Unit, each Unit consisting of one
common share to be issued and one-half of one common share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant will
entitle the holder to acquire one common share of the Company for a
period of twenty four (24) months at an exercise price of $0.20 per
share.
Approximately 35% of the Units will be acquired by insiders of
the Company and related party members and the remaining Units by
other accredited investors. The Company has determined that there
are exemptions available from the various requirements of TSX
Venture Policy 5.9 and Multilateral Instrument 61-101 for the
issuance of the securities to the insiders and related party
members. No new insiders are anticipated to be created, nor will
there be any change of control as a result of the Private
Placement.
The proceeds from the Private Placement will be used for
exploration work on the Company's Quebec and Newfoundland based
properties. Closing of the Private Placement is subject to TSX
Venture Exchange approval. The securities issued will be subject to
a standard four month hold period.
About BOWMORE
BOWMORE is a Canadian exploration mining company focused on
precious metal exploration in Canada and Mexico. The Company trades
on the TSX Venture Exchange under the symbol "BOW".
For further information on BOWMORE, visit
www.bowmorexploration.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-looking statements:
Except for statements of historical facts, all statements in
this news release regarding, without limitation, the Private
Placement, new project acquisitions, future plans and objectives
are forward-looking statements which involve risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions actual results and future events could
differ materially from those anticipated in such statements.
Factors that may cause the actual results to differ materially from
those in forward-looking statements include precious metal prices,
results of exploration and development activities, regulatory
changes, defects in title, availability of materials and equipment,
timeliness of government approvals, continued availability of
capital and financing and general economic, market or business
conditions. The Company cautions the foregoing list of important
factors is not exhaustive. Investors and others who base themselves
on the Company's forward-looking statements should carefully
consider the above factors as well as the uncertainties they
represent and the risk they entail. Please see the public filings
of the Company at www.sedar.com.
Paul A. DumasPresident & CEOBOWMORE Exploration Ltd.(514)
861 4441info@bowmorexploration.comChristina LalliCorporate
CommunicationsBOWMORE Exploration Ltd.(514)
865-8223clalli@bowmorexploration.com
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