Bell Copper Corporation press release
Bell Copper Corporation - Non-brokered private placement
TSXV - TSX Venture Exchange · Copper · Molybdenum · Rhenium · Silver · Gold · Lead · Zinc · Canada
May 17, 2010 (Canada NewsWire Group) --
TSX-V Symbol: BCU
VANCOUVER, May 17/CNW Telbec/ - Bell CopperCorporation ("Bell Copper" or the "Company") (TSX-V Symbol: BCU) announces it will be conducting a non-brokered private placement of up to 10,000,000 units ("Units") at a price of $0.30per Unit to raise proceeds of up to $3,000,000.
Each Unit will consist of one common share and one share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of $0.50per share for a period of one year from closing (the "Unit Warrants"). The Unit Warrants are subject to the right of the Company to accelerate the exercise period for the Unit Warrants if the common shares of the Company trade above $1.00for a period of 10 consecutive trading-days.
The proceeds of the private placement will be used for the current work programs, the La Balsa Feasibility Study, retiring debt and for general working capital purposes.
The Company intends to pay a finder's fee incidental to the financing in accordance with Exchange policies. The private placement and payment of a finder's fee are subject to TSX Venture Exchange acceptance.
The Company further announces that on May 12, 2010a total of 10,953,000 warrants exercisable into Bell Coppercommon shares expired.
About Bell Copper
Bell Copperis a public company with a focus on copper exploration, development and production in North America. The Company has an extensive portfolio of exploration and development projects located in some of North America's premier copper producing regions including Mexico, the Southwestern US and Northwestern British Columbia.
<< ON BEHALF OF THE BOARD OF DIRECTORS OF BELL COPPER CORPORATION
"Michael Werner"
Michael Werner CEO & Director >>
"Neither 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."