2022-02-17 05:45:22
Vancouver, British Columbia–(Newsfile Corp. – February 17, 2022) – Bell Copper Corporation (TSXV: BCU) (OTCQB: BCUFF) (“Bell Copper” or the “Company”) reports that the Company has been notified by its largest shareholder, Crescat Capital LLC, that it will be redeeming all of its outstanding warrants to purchase shares of the Company’s common stock.
These warrants were originally issued by the Company as part of units in the Company’s $2 million private placement financing completed on June 21, 2021. Each warrant is exercisable to acquire one common share of the Company at a price of $0.25 per share. Crescat Capital will be exercising a total of 6,666,666 warrants generating a further C$1,666,666.00 investment into Bell Copper.
“We are delighted to see the successful discovery of a large porphyry system by Bell Copper, enough so we are willing to exercise warrants early so that Tim Marsh and team can keep drilling,” commented Quinton Hennigh, Geologic/Technical Director of Crescat Capital. “This is bold exploration, the exploration we like. Big discoveries will only be made by thinking outside the box and testing blind targets. Given the geology seen in recent core drilling, we are very optimistic Big Sandy will prove to be a major new copper discovery in one of the most prolific porphyry copper districts on Earth.”
The Company has also received an additional C$1,104,000 from the exercise of outstanding warrants from the Company’s previous unit private placements over the last 90 days, which will bring the total receipts from warrant exercises to C$2,770,666.
The Company will be using the funds for ongoing drilling at it’s Big Sandy porphyry copper project and for general working capital.
“Bell Copper is pleased to be able to use fresh warrant funds from Crescat Capital and other loyal Bell shareholders to pay for the next few drillholes and related evaluation programs on our Big Sandy discovery. We expect the results of this work to be transformative for our share price, enabling future fundraising to be less dilutive for our current shareholders.” Tim Marsh, Bell Copper President and CEO.
About Bell Copper
Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in Arizona. Bell Copper is exploring its 100% owned Big Sandy Porphyry Copper Project and the Perseverance Porphyry Copper Project which is under a Joint Venture – Earn In.
On behalf of the Board of Directors of
Bell Copper Corporation
“Timothy Marsh”
Timothy Marsh, President, CEO & Director
For further information please contact the Company
Tel: 1 800 418 8250
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Neither the 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
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. Forward-looking statements in this news release include that the shareholders rights plan will ensure that all shareholders are treated fairly in the event of a takeover and that the plan will be put to shareholder at the SGM for ratification. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Bell Copper operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies, including the risk that the TSX Venture Exchange will not approve the shareholders rights plan and that the shareholders will not ratify the plan at the SGM. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
