/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, BC, Jan. 6, 2021 /CNW/ - Bear Creek Mining
Corporation ("Bear Creek" or the "Company") (TSXV: BCM) (BVL:
BCM) announces that it has entered into an agreement with a
syndicate of underwriters led by Stifel GMP (collectively, the
"Underwriters"), pursuant to which the Underwriters will purchase,
on a bought deal basis, 10,000,000 common shares (the "Common
Shares") of the Company at a price of C$3.00 per Common Share (the "Offering Price")
for aggregate gross proceeds to the Company of C$30,000,000 (the "Offering").
The Company has agreed to grant the Underwriters an
over-allotment option to purchase up to an additional 1,500,000
Common Shares at the Offering Price, exercisable in whole or in
part, at any time and from time to time on or prior to the date
that is 30 days following the closing of the Offering to cover
over-allotments, if any, and for market stabilization purposes. If
this option is exercised in full, an additional C$4,500,000 in gross proceeds will be raised
pursuant to the Offering and the aggregate gross proceeds of the
Offering will be C$34,500,000.
The net proceeds from the Offering will be used for ongoing
development activities at the Corani silver-lead-zinc project and
for general corporate purposes.
The Common Shares will be offered by way of a prospectus
supplement to be filed in all provinces and territories of
Canada, except Québec. The Common
Shares may also be offered in the United
States on a private placement basis pursuant to applicable
exemptions from the registration requirements of the United States
Securities Act of 1933, as amended (the "1933 Act") and applicable
state securities laws, and in other jurisdictions outside of
Canada provided that no prospectus
filing or comparable obligation arises.
The Offering is scheduled to close on or about January 15, 2021 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals including the conditional approval of the TSX
Venture Exchange.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities being
offered have not been, nor will they be, registered under
the 1933 Act and may not be offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements of the 1933
Act, and applicable state securities laws.
On behalf of the Board of Directors,
Anthony Hawkshaw
President and CEO
Forward-looking Statements
This news release contains forward-looking statements
regarding the timing and completion of the Offering, the use of
proceeds of the Offering and continued development of
the Corani Property. These forward-looking statements are
provided as of the date of this news release, or the effective date
of the documents referred to in this news release, as applicable,
and reflect predictions, expectations or beliefs regarding future
events based on the Company's beliefs at the time the statements
were made, as well as various assumptions made by and information
currently available to them. In making the forward-looking
statements included in this news release, the Company has applied
several material assumptions, including, but not limited to, that
general economic and business conditions will not change in a
materially adverse manner, that the Offering will be completed on
the anticipated timing and that receipt of regulatory approvals
including the TSXV approval for the Offering will be obtained.
Although management considers these assumptions to be reasonable
based on information available to it, they may prove to be
incorrect. By their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific, and
risks exist that estimates, forecasts, projections and other
forward-looking statements will not be achieved or that assumptions
on which they are based do not reflect future experience. We
caution readers not to place undue reliance on these
forward-looking statements as a number of important factors could
cause the actual outcomes to differ materially from the
expectations expressed in them. These risk factors may be generally
stated as the risk that the assumptions expressed above do not
occur, but specifically include, without limitation, risks relating
to general market conditions and the additional risks described in
the Company's final short form base shelf prospectus dated
October 29, 2020, the Company's
latest Annual Information Form, and other disclosure documents
filed by the Company on SEDAR. The foregoing list of factors that
may affect future results is not exhaustive. Investors and
others should carefully consider the foregoing factors and other
uncertainties and potential events. The Company does not undertake
to update any forward-looking statement, whether written or oral,
that may be made from time to time by the Company or on behalf of
the Company, except as required by law.
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.
SOURCE Bear Creek Mining Corporation
