News Releases
| Tue Jul 10, 2007 Bear Creek Prices $20.0 Million Underwritten Financing | |
| This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. VANCOUVER, July 10 /CNW/ - Bear Creek Mining Corporation (TSX Venture: BCM) (the "Company") is pleased to announce that it has entered into an underwriting agreement for a private placement with a syndicate of underwriters co-led by Haywood Securities Inc. and Canaccord Capital Corp. and including Paradigm Capital Inc., Cormark Securities Inc. and Scotia Capital Inc. pursuant to which the syndicate has agreed to purchase 2,425,000 units from treasury at a price of $8.30 per unit (the "Issue Price") for gross proceeds of approximately $20.0 million. The offering is being done on a private placement basis and is subject to regulatory approvals. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company at a price of $10.50, until two years from the closing date. Subject to there being adequate distribution to meet the listing requirements of the TSX Venture Exchange, the Company will apply to list the warrants on such Exchange after the expiration of the 4-month hold period following the closing of the offering. The offering is expected to close on or about August 1, 2007. Net proceeds from the offering will be used to fund the exploration and development of the Company's Corani and Santa Ana silver projects in Peru and for general corporate purposes. Catherine McLeod-Seltzer, Chairman of Bear Creek commented on the financing saying "we are pleased at the strong response to this financing and happy that our major shareholder, Silver Wheaton has again elected to participate in the transaction." The securities referred to in this news release have not been, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Bear Creek Mining Corporation "Andrew T. Swarthout" Andrew T. Swarthout President and CEO For further information, Contact: Andrew T. Swarthout Tel: (604) 685 - 6269 Patrick De Witt - Investor Relations Direct: 604-628-1111 E-mail: info@bearcreekmining.com For further information, please visit the Company's website (www.bearcreekmining.com) | |