Bell Copper Announces Further Increase to Non Brokered Private Placement and Postponement of Filing Q2 Statements due to Covid-19 Pandemic
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August 28, 2020
News Release Bell Copper Corporation - TSX.V Symbol: BCU
Bell Copper Announces Further Increase to Non Brokered Private Placement and Postponement of Filing Q2 Statements due to Covid-19 Pandemic
VANCOUVER, B.C. - Bell Copper Corporation (“Bell Copper” or the “Company”) (TSX-V: BCU) reports that further to its news releases of August 20 and 24, 2020 regarding the Company’s intention to conduct a non-brokered private placement (the “Financing”), the Company is further increasing the private placement to up to CDN $850,000, by the issuance of up to 5,666,666 units at a price of $0.15 per unit (the “Units”).
Each Unit shall consist of one common share and one 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 one year from the date of closing of the Financing. The Company may pay finder’s fees incidental to the financing, as permitted by the policies of the TSX Venture Exchange.
Funds raised from this private placement will be used for continued exploration at the Company’s 100% owned Big Sandy Porphyry Copper Project and for general working capital.
The securities issued pursuant to the Financing will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing of the Financing. Closing of the Financing is subject to receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
Q2 Financial Statement Filing
Bell further announces that it will be postponing filing its interim financial statements, Management's Discussion and Analysis, and Officer certificates for the period ended June 30, 2020. Bell estimates that the second quarter interim documents will be available for filing at its earliest opportunity, which is expected to occur on or before October 15, 2020.
Due to logistics and delays caused by the COVID-19 pandemic, Bell is relying on exemptive relief recently granted by BC Instrument 51-515 that allows it to delay the filing of its interim documents required by National Instrument 51-102 by August 31, 2020. In response to the COVID-19 pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.
Until such time as the June 30, 2020 interim documents are filed, Bell’s management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11- 207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
There have been no material business developments since the date of the last interim financial statements, filed on July 15, 2020, however, the Company has issued news releases subsequent to July 15, 2020, copies of which are available on SEDAR at www.sedar.com .
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.
On behalf of the Board of Directors of Bell Copper Corporation
"Timothy Marsh"
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