BWR Exploration Inc. Announces a Non-Brokered Unit Offering
TORONTO, Dec. 05, 2018 - BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) announces that it has initiated a non-brokered, unit offering (“Unit Offering”) of up to 2,000,000 units (the “Units”) at a price of $0.20 per Unit. Each Unit will consist of one non flow-through common share (a “Common Share”) of the Company, three flow-through shares (“Flow-Through Common Shares”) and one half of one Common Share purchase warrant (a “Half-Warrant”) of the Company. Each Half-Warrant will expire 12 months from the date of issue (the “Warrant Expiry Date”) and two Half-Warrants will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) in the capital of the Company at a price of $0.075 (the “Exercise Price”) per Warrant Share until the Warrant Expiry Date. The Unit Offering is for aggregate proceeds of up to $400,000.
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 for 12 months from the date of issue.
The proceeds from the Unit Offering will be used for general corporate purposes and to advance and execute exploration programs on the Company’s Little Stull Lake project 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 64,412,461 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
For information regarding this financing please contact:
Carl Desjardins, Paradox Investor Services Inc.