Bowmore Arranges Private Placement
June 13 2014 - 4:58PM
Marketwired
Bowmore Arranges Private Placement
MONTREAL, QUEBEC--(Marketwired - Jun 13, 2014) - Bowmore
Exploration Ltd. (TSX-VENTURE:BOW) )(FRANKFURT:0B5)("Bowmore" or
the "Company") has arranged a non-brokered flow-through private
placement (the "Placement") with Canadian investors to raise up to
$375,000 by way of the issuance of up to 2,500,000 units (the
"Units") at a price of $0.15 per Unit. Each Unit is comprised of
one flow-through common share and one-half of one common share
purchase warrant. Each whole warrant entitles the holder thereof to
purchase one non-flow-through common share of Bowmore at a price of
$0.20 each until December 13, 2015.
The Company may pay a finder's fee (a) in cash of 6% of gross
proceeds in respect of the subscriptions placed by finders and (b)
of share purchase warrants ("Finder's Warrants") representing 6% of
the Units placed by finders, with each Finder's Warrant entitling
the holder thereof to purchase one common share of Bowmore at a
price of $0.15 each until December 13, 2015.
Robert Wares, a director of the Company, and Paul Dumas,
President, CEO and a director of the Company, have subscribed for
1,000,000 Units and 66,667 Units respectively. The Company will be
relying upon the exemptions from the valuation and minority
shareholder approval requirements of Multilateral Instrument 61-101
contained in section 5.5(b) and 5.7(b), respectively, with respect
to the issuance of Units to the insiders.
The gross proceeds raised from the Placement are to be used to
incur Canadian exploration expenses on the Company's
Newfoundland-based properties.
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.
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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