TORONTO, Sept. 11, 2019 - BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) announces that it has initiated a non-brokered, unit offering (the “Unit Offering”) of up to 6,000,000 units (the “Units”) set out below at a price of $0.05 per Unit. Each Unit will consist of one common share (a “Common Share”) of the Company and one-half Common Share purchase warrant. Two one-half Common Share purchase warrants comprise one Common Share purchase warrant (a “Full Warrant”) of the Company. Each Full Warrant will expire 36 months from the date of issue (the “Full Warrant Expiry Date”) and will entitle the holder thereof to purchase one Common Share (a “Full Warrant Share”) at a price of $0.075 per Full Warrant Share within 24 months from the closing of the Unit Offering and for the period that is for 24 months plus one day from closing of the Unit Offering until the Full Warrant Expiry Date at a price of $0.10 per Full Warrant Share. The Unit Offering is for aggregate proceeds of up to $300,000.
While the Unit Offering is being effected by the Company on a non-brokered basis, the Company may pay finder’s fees to arm’s-length third parties consisting of: (i) cash commission of up to 8% of the gross proceeds of the Unit Offering; and (ii) broker warrants (“Broker Warrants”) in an amount up to 8% of the total number of Units issued under the Unit Offering. Each Broker Warrant will entitle the holder thereof to purchase one Common Share of the Company at the Exercise Price of $0.075 for 24 months from the date of issue.
The proceeds from the Unit Offering will be used for general corporate purposes including advancing the exploration programs on the Company’s projects in Canada with a focus on the Little Stull Lake Gold project located in Northeastern Manitoba.
A statutory four month plus one day hold period will apply to all securities issued in connection with the Unit Offering. The Unit Offering is subject to TSX Venture Exchange and regulatory approval and the Company may elect to close this financing in various tranches.
BWR Exploration Inc. is a public company focused on exploring for base and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector.
There are currently 68,202,461 shares issued and outstanding in the Company.
Neither the Toronto 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.
For more information about BWR please visit our website:
http://www.bwrexploration.com or call/email:
Neil Novak, P.Geo., President, CEO & Director
BWR Exploration Inc.
82 Richmond St. E
Toronto, ON M5C 1P1
Office: 416-848-6866
nnovak@bwrexploration.com
For information regarding this financing please contact:
Carl Desjardins, Paradox Investor Services Inc.
Cell: 514-618-4477
carldesjardins@paradox-pr.ca
