BC MOLY Ltd. Announces Completion of Previously Announced Debt Settlement
BC MOLY LTD. ANNOUNCES COMPLETION
OF PREVIOUSLY ANNOUNCED DEBT SETTLEMENT
Burnaby, British Columbia – January 6, 2022 – BC Moly Ltd. (NEX: BM.H) (the “Company” or “BC
Moly”) announces in furtherance of its news release dated December 30, 2021 that it has completed its
previously announced debt settlement and has settled an aggre gate of $1,110,417.39 of indebtedness
owed to 1095474 B.C. Ltd. (formerly Prairie Enterprises (Alberta) Inc.) (“109 BC Ltd.”) through the issuance
to 109 BC Ltd. of 19,740,754 common shares (“Common Shares”) of the Company at a deemed price of
$0.05625 per Common Share (the “ Debt Settlement”). In connection with the Debt Settlement, 109 BC
Ltd. has forgiven any debt owing by the Company that was not converted pursuant to the Debt Settlement.
All Common Shares issued in connection with the Debt Settlement are subject to a statutory hold period of
four months plus a day from the date of issuance in accordance with applicable securities legislation.
The Debt Settlement constituted a “related party transaction” as defined in Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions (“MI 61-101”), as 109 BC Ltd. which is
controlled by Edward Yurkowski acquired 19,740,754 Common Shares. The Company is relying on
exemptions from the valuation and minority shareholder approval r equirements of MI 61-101 contained in
sections 5.5(b), 5.5(g) and 5.7(l)(e) of MI 61 -101, as the Company is not listed on a specified market and
the Company is in financial hardship. The Company will be filing a material change report in respect of the
related party transaction on SEDAR less than 21 days prior to the closing of the Debt Settlement due to the
fact that the Company wished to settle the debt as soon as practicable, in the best interests of the Company.
About BC Moly Ltd.:
BC Moly Ltd. is a Canadian mineral exploration company focused on the development of its Storie Property
molybdenum deposit. The Storie Property is situated about 6 km southwest of Cassiar, British Columbia.
Cassiar is located 15 km (by paved road) west of Highway 37 which provides access to Watson Lake,
Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.
For further information, contact Edward Yurkowski at (604) 833-2006 or [email protected].
On behalf of BC Moly Ltd.
“Edward Yurkowski”
_________________________________
Edward Yurkowski, President, CEO, CFO and Corporate Secretary
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy o f
this release. This news release includes certain statements that may be deemed “forward-looking statements”. All statements, other
than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, poten tial
mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such ,
are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although theCompany
believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or developments may differ materially from those in forward -looking
statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters
as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or
business conditions. Any forward -looking statements are expressly qualified in their entirety by this cautionary statement. The
information contained herein is stated as of the current date and subject to change after that date.