Bear Creek raises C$30M to advance its silver-zinc deposit in Peru
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(Kitco News) - Bear Creek Mining (TSXV: BCM) announced today that it has entered into an agreement with a syndicate of underwriters led by Stifel GMP, pursuant to which the underwriters will purchase, on a bought deal basis, 10,000,000 common shares of the company at a price of C$3.00 per common share for aggregate gross proceeds to the company of C$30,000,000.
The company said that the net proceeds from the offering will be used for ongoing development activities at the Corani silver-lead-zinc project and for general corporate purposes.
The offering is scheduled to close on or about January 15, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange.
Bear Creek Mining is a leading Peru-focused silver exploration and development company. The company’s wholly owned Corani silver-lead-zinc deposit is one of the largest, fully permitted silver deposits in the world and is highlighted by its substantial base metal credits.
Corani has sizeable proven and probable reserves that will support average annual payable metal production of 9.6 M oz of silver, 98 M lb of lead and 69 M lb of zinc over a 15-year mine life.