BWR Exploration Inc. Announces a Non-Brokered Unit Offering
BWR Exploration Inc. Announces a Non-Brokered Unit Offering
November 24, 2022
Toronto, Ontario – BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) announces that it has initiated a
non-brokered, unit offering (the “Unit Offering”) of up to 8,000,000 units (the “Units”) set out below at a price of $0.03
per Unit. Each Unit will consist of one common share (a “ Common Share”) of the Company and one -half Common
Share purchase warrant (a “Half Warrant”). Two Half Warrants comprise one Common Share purchase warrant (a “Full
Warrant”) of the Company. Each Full Warrant will expire 36 months from the date of issue (the “Full Warrant Expiry
Date”) and will entitle the holder thereof to purchase one Common Share (a “ Full Warrant Share”) at a price of $0.06
per Full Warrant Share within 24 months from the closing of the Unit Offering and for the period that is for 24 months
plus one day from closing of the Unit Offering until the Full Warrant Expiry Date at a price of $0.10 per Full Warrant
Share. The Unit Offering is for aggregate proceeds of up to $240,000.
While the Unit Offering is being effected by the Company on a non -brokered basis, the Company may pay finder’s fees
to arm’s-length third parties consisting of: (i) cash commission of up to 8% of the gross proceeds of the Unit Offering;
and (ii) broker warrants (“Broker Warrants”) in an amount up to 8% of the total number of Units issued under the Unit
Offering. Each Broker Warrant will entitle the holder thereof to purchase one Common Share of the Com pany at the
Exercise Price of $0.06 for 24 months from the date of issue.
The proceeds from the Unit Offering will be used for general corporate purposes including advancing the exploration
programs on the Company’s projects in Canada with a focus on the Little Stull Lake Gold project located in Northeastern
Manitoba. A statutory four month plus one day hold period will apply to all securities issued in connection with the Unit
Offering. The Unit Offering is subject to TSX Venture Exchange and regulatory approval. Closing is expected on or about
December 15, 2022 or such other date as the Company may determine, including in various tranches.
This news release does not constitute an offer to sell or a solicit ation of an offer to sell of any of the securities in the
United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States
or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
BWR Exploration Inc. is a public company focused on e xploring for base and precious metals, with its flagship Little
Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec,
Canada. Management of BWR includes an accomplished group of exploration/m ining specialists with many decades of
operational experience in the junior resource sector. There are currently 101,442,461 shares issued and outstanding in the
Company.
Neither the Toronto 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.
For more information about BWR please visit our website:
http://www.bwrexploration.com or call/email:
Neil Novak, P.Geo., President, CEO & Director,
BWR Exploration Inc.
82 Richmond St. E
Toronto, ON M5C 1P1
Office: 416-848-6866
For information regarding this financing please contact:
Carl Desjardins,
Paradox Investor Services Inc.
Office: 514-341-0408
Cautionary and Forward-Looking Statements
This news release includes certain forward -looking statements and forward -looking information (collectively, "forward -
looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements
of historical fact, included herein including, without limitation, statements regarding the Unit Offering and proposed uses
of the proceeds of the Unit Offering , are forward-looking statements. Although the Company believes that such statements
are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward -
looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including
negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will
occur or be taken or achi eved. Forward -looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the Company to differ materially from any
future results, performance or achievements expressed or implied by the forward-looking statements. This forward-looking
information reflects the Company’s current beliefs and is based on information currently available to the Company and on
assumptions the Company believes are reasonable. These assumptions include, but are not limited to: TSX Venture Exchange
acceptance of the Unit Offering; market acceptance and approvals; and the anticipated closing date for the Offering.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of the Company to be materially different from those expressed
or implied by such forward -looking information. Such risks and other factors may include, but are not limited to: general
business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for
securities; delay or failure to receive board or regulatory ap provals; the actual results of future operations; competition;
changes in legislation, including environmental legislation, affecting the Company; the timing and availability of external
financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional
assumptions used to develop such forward -looking information and a description of additional risk factors that may cause
actual results to differ materially from forward - looking information can be found in the Company’s disclosure documents
on the S ystem for Electronic Document Analysis and Retrieval ( “SEDAR”) website at www.sedar.com. Although the
Company has attempted to identify important factors that could cause actual results to differ materially from those contained
in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned n ot to place undue
reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which
they are placed will occur. Forward -looking information contained in this news release is expressly qualified by th is
cautionary statement. The forward -looking information contained in this news release represents the expectations of the
Company as of the date of this news release and, accordingly, is subject to change after such date. However, the Company
expressly disclaims any intention or obligation to update or revise any forward -looking information, whether as a result of
new information, future events or otherwise, except as expressly required by applicable securities law.