BC Moly Ltd. Completes Private Placement
BURNABY, BRITISH COLUMBIA--(Marketwired - Oct 5, 2015) - BC Moly Ltd. (the "Company" or "BC Moly") (TSX VENTURE:BM) is pleased to announce the closing of a private placement financing (the "Private Placement") of 1,555,556 common shares (the "Common Shares) at a price of $0.09 per Common Shares for an aggregate subscription price of $140,000.04. All of the Private Placement was purchased by Prairie Enterprises (Alberta) Inc. ("Prairie"), a company that is owned and controlled by Mr. Edward Yurkowski, a director and chief executive officer of the Company. Proceeds from the Private Placement will be used for general corporate purposes, including to fund corporate overhead. No finders' fees are payable and all the Common Shares will be subject to a 4 month hold period until February 6, 2016.
About BC Moly Ltd.:
BC Moly Ltd. is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit. The Storie Property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by paved road) west of Highway 37 which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.
On behalf of BC Moly Ltd.
Jimmy Mah, Chief Financial Officer
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements". All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.
BC Moly Ltd.