06/17/2021 | Press release | Distributed by Public on 06/18/2021 15:50
June 11, 2021
Bell Copper Corporation - TSX.V Symbol: BCU
Bell Copper Announces First Tranche Closing of Non-Brokered Private Placement
VANCOUVER, B.C. - Bell Copper Corporation (TSX-V: BCU) ('Bell Copper' or the 'Company') announces that further to its news release of June 9, 2021, the Company has now closed a first tranche ('First Tranche') of its non-brokered private placement to raise gross proceeds of up to CDN $2,000,000.00 (the 'Financing').
In the First Tranche, the Company issued 6,746,666 units ('Units') at a price of $0.15 for total gross proceeds of $1,012,000.00, of which Crescat Capital LLC subscribed for CDN $1,000,000.00. 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, 12021 news release.
The securities issued by the Company in this First Tranche of the Financing are subject to a statutory hold period which expires on October 12, 2021. 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.
'Although Crescat Capital is mainly a precious metal focused fund, we have recently extended our investment strategy to include some early stage but potentially very large copper exploration projects,' commented Quinton Hennigh, technical advisor to Crescat Capital. 'Bell Copper holds two such projects, Big Sandy and Perseverance, both situated in the world class Arizona copper district. While Perseverance is being driven forward through an earn-in/joint venture with Robert Friedland's Cordoba Minerals, Bell is exploring Big Sandy on its own. Big Sandy is a huge target with strong evidence of a buried porphyry Cu target. Bell's technical team led by Dr. Tim Marsh, who is the former chief geologist of the massive Resolution Copper Company, also in Arizona, is the right group to explore Big Sandy. We look forward to watching this story closely as Tim and his team give Big Sandy a solid drill test this year.'
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Crescat's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives and includes Global Macro, Long/Short, Large Cap and Precious Metals funds.
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, President, CEO & Director
For further information please contact the Company
Tel: 1 800 418 8250
Email: [email protected]
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.