Bowmore Closes the Financing with Global Resources Investment Trust
March 12 2014 - 8:30AM
Marketwired
Bowmore Closes the Financing with Global Resources Investment Trust
MONTREAL, QUEBEC--(Marketwired - Mar 12, 2014) - Bowmore
Explorations Ltd. (the "Company" or "Bowmore")
(TSX-VENTURE:BOW)(FRANKFURT:0B5) is pleased to announce that it has
completed the financing (the "Financing") through the London based
investment group Global Resources Investment Trust Plc. ("GRIT")
(see News Release February 11th, 2014) pursuant to which Bowmore
has acquire 518,246 ordinary shares (the "GRIT Shares") of Global
Resources Investment Trust Plc. ("GRIT"), valued at 1 British Pound
per GRIT Share (or total value of $960,000 Canadian) in exchange
for 6,000,000 common shares of Bowmore (the "Bowmore Shares")
valued at $0.16 per Bowmore share. Global Resources Investment
Trust Plc announced Friday March 7th, 2014 the admission of its
ordinary shares to the premium listing segment of the Official List
of the UK Listing Authority and to trading on the London Stock
Exchange's (LSE) main market for listed securities.
Global Resources Investment Trust Plc is a new investment trust
established to seek and exploit investment opportunities in the
junior mining and natural resource sector worldwide with an
investment objective to generate medium and long-term capital
growth through investing in a diverse portfolio of primarily small
and mid-capitalization companies that are in the field of the
exploration and production of oil, gas, precious and industrial
metals, and industrial and commercial minerals. The initial
portfolio is comprised of 41 companies with an aggregate value of
£39.520 million British pounds.
The proceeds from the Financing (the sales of the GRIT shares)
will be used for exploration work on the Company's properties and
for working capital. Finder's fees representing 6% of the
transaction value may be payable in cash or GRIT shares, at the
option of the Company and in accordance with TSX Venture Exchange
policies and subject to receipt of TSX Venture Exchange approval.
The Bowmore Shares will be subject to a standard four month hold
period.
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".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in 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 Financing and
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
the ability of GRIT to complete its stock exchange listing, the
ability of the Company to resell the GRIT Shares, 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 A. DumasPresident & CEOBOWMORE Exploration Ltd. (514)
861 4441info@bowmorexploration.comChristina LalliCorporate
CommunicationsBOWMORE Exploration Ltd.(514)
865-8223clalli@bowmorexploration.comwww.bowmorexploration.com
Bowmore Exploration Ltd. (TSXV:BOW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bowmore Exploration Ltd. (TSXV:BOW)
Historical Stock Chart
From Sep 2023 to Sep 2024