Bathurst Metals Announces Completion of Financing
Vancouver, October 21, 2020 - Bathurst Metal Corp. (BMV.H previously Pacific Cascade Minerals Inc. PCV.H) (TSXV:BMV.H) ("Bathurst" or the "Company") announces it has closed its previously announced private placement by the issuance of 8,210,000 units (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of $821,000.00 (the "Offering"). Each Unit is comprised of one (1) common share and one (1) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.18 for one year from closing of the Offering. The Company announced a financing of 7,500,000 Units for aggregate gross proceeds of $750,000.00 on September 17, 2020. Due to strong demand, the financing was increased from 7,500,000 to 8,250,000 Units on October 7, 2020.
The net proceeds of the private placement will be used to pay an aggregate of $246,000.00 principal amount of outstanding promissory notes, interest and for working capital.
Finders' fees in the aggregate of $30,450.00 were paid on a portion of the Offering.
The Units, common shares, share purchase warrants and shares issued upon exercise of the share purchase warrants are subject to a four month hold period, expiring February 20, 2021.
On behalf of the Board of Directors
"Harold Forzley"
President / CEO
For more information contact
Harold Forzley, President
hardy@bathurstmetals.com
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