BECKER GOLD MINES LTD. (TSXV : BDF) (the “Company”) announces that it is proposing to sell by way of a non-brokered private placement up to 1.2 million units (“Units”) at a price of $0.25 per Unit for gross proceeds of up to $300,000 (the “Offering”). Each Unit will comprise one common share (a “Share”) of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one additional Share at a price of $0.35 per Share for a period of one year from the closing.
To assist in placing the Offering, Company management plans to pay certain arm’s length persons who will introduce subscribers to the Offering to pay to such persons finder’s fees of 7% of the gross proceeds of the Offering payable in cash or, at the option of the Company and if acceptable to TSXV finders, in Units (having the same terms as the Units issued to subscribers under the Offering), at closing.
Company management expects that the net proceeds of the Offering will be used to finance an exploration program on the Chipriona property and for general working capital.
The Offering, including the finder’s fees arrangement, is subject to the acceptance of TSXV. All Shares and Warrants issued under the Offering will be subject to a standard four-month hold period.
The Company has also granted, under its Share Option Plan, incentive stock options to certain directors, and officers of the Company, to purchase 1,500,000 common shares. The options will be exercisable for a period of up to five years from the date of grant at a price of $0.30.
BECKER GOLD MINES LTD.
Stephen Kenwood, President
Neither 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 Statement Caution
This press release contains certain “forward-looking statements within the meaning of Canadian securities legislation. Forward Looking statement include, but are not limited to, the Company’s plans to complete the Offering. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” ”projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by the securities laws applicable to the Company and the policies of the Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, but are not limited to, general business, economic, competitive, political and social uncertainties, or the Company’s inability to secure the final acceptance of the Offering from the Exchange.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.