BOWMORE Closes First Tranche of Private Placement
December 31 2013 - 3:00PM
Marketwired
BOWMORE Closes First Tranche of Private Placement
MONTREAL, QUEBEC--(Marketwired - Dec 31, 2013) - Bowmore
Explorations Ltd. (the "Company" or "Bowmore")
(TSX-VENTURE:BOW)(FRANKFURT:OB5) is pleased to announce that it has
closed a first tranche of its non-brokered private placement (News
release December 20, 2013) in the amount of $268,905 (the
"Placement") with Canadian investors consisting of 2,068,500 units
(the "Units") at a price of $0.13 per Unit. Each Unit is comprised
of one common share and one-half of one common share purchase
warrant. Each whole warrant entitles the holder thereof to purchase
one common share of Bowmore at a price of $0.20 each until December
30, 2015.
The net proceeds raised from the Placement will be used for
Canadian exploration expenses and working capital. The Company
expects to close the remainder of the private placement early
January 2014.
All securities issued pursuant to the Placement will be subject
to a four month hold period expiring on May 1, 2014.
About BOWMORE
BOWMORE is a Canadian exploration mining company focused on
precious metal exploration in Canada and Mexico. The Company trades
on the TSX Venture Exchange under the symbol "BOW".
For further information on BOWMORE, visit
www.bowmorexploration.com.
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.
Forward-looking statements: Except for statements
of historical facts, all statements in this news release regarding,
without limitation, the Private Placement, new project
acquisitions, future plans and objectives are forward-looking
statements which involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions
actual results and future events could differ materially from those
anticipated in such statements. Factors that may cause the actual
results to differ materially from those in forward-looking
statements include precious metal prices, results of exploration
and development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, continued availability of capital and financing and
general economic, market or business conditions. The Company
cautions the foregoing list of important factors is not exhaustive.
Investors and others who base themselves on the Company's
forward-looking statements should carefully consider the above
factors as well as the uncertainties they represent and the risk
they entail. Please see the public filings of the Company at
www.sedar.com.
Paul DumasPresident & CEOBOWMORE Exploration Ltd.(514)
861-4441info@bowmorexploration.comChristina LalliCorporate
CommunicationsBOWMORE Exploration Ltd.(514)
865-8223clalli@bowmorexploration.comwww.bowmorexploration.com
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