Offering now conducted on non-brokered basis at C$0.05 per unit
By Devika Patel
Knoxville, Tenn., March 28 - Bell Copper Corp. said it amended the terms of a private placement of units, which will now raise C$2.5 million on a non-brokered basis. The deal priced for C$2 million on Feb. 9 and was to be conducted by agent D&D Securities Inc. on a best-efforts basis.
The company will now sell 50 million units at C$0.05 per unit. Each unit will consist of one common share and one half-share warrant, with each whole warrant exercisable at C$0.10 for two years.
The strike price is a 25% premium to the Feb. 8 closing share price of C$0.08.
Bell Copper originally planned to sell 25 million units at C$0.08 apiece. The warrants were originally exercisable at C$0.12 for 18 months.
Proceeds will be used for the feasibility study of the La Balsa project in Mexico, the acquisition of the Van Dyke project in Arizona and general working capital purposes.
Vancouver, B.C.-based Bell Copper is an exploration-stage company engaged in the acquisition and exploration of prospective base metals properties in North America.
| Issuer: | Bell Copper Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 50 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | D&D Securities Inc.
|
| Pricing date: | Feb. 9
|
| Revised: | March 28
|
| Stock symbol: | TSX Venture: BCU
|
| Stock price: | C$0.08 at close Feb. 8
|
| Market capitalization: | C$8.68 million
|
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