BWR Exploration Inc. Raises $36,000 in Final Tranche of Placement bringing total Raise to $619,275
BWR Exploration Inc. Raises $36,000 in Final Tranche of Placement bringing total Raise to $619,275
April 10, 2017 - Toronto, Ontario – BWR Exploration Inc. (TSXV:BWR) (“BWR”) announces that on April 6,
2017 it closed the second tranche of the previousl y announce d non-brokered private placement . (For
details, see our press release dated February 15, 2017 and March 30, 2017 ). This closing raised additional
gross proceeds of $36,000, of which 600,000 Flow-Through units were subscribed. All issued units have a
hold period of 4 months plus one day, making them available for trading on August 7, 2017.
Cash commission totaling $2,880 was paid to a registered broker on the basis of 8% of the value of the
private placements by clients. In addition 48,000 Broker Warrants were issued to a registered broker on the
basis of 8% of number of units subscribed for by clients. Each broker warrant entitles the holder to
purchase a common share of BWR for a period of 24 months from the date of issuance at a price per share of
$0.10.
As previously announced $583,275 was raised on March 28, 2017 of which $219,000 was Flow Through and
the remaining $364,275 was Non -Flow Through. The additional amount raised in th is second tranche
brings the total Flow Through raise to $255,000 representing 4,250,000 units (4,250,000 common shares at
$0.06/share plus 2,125,000 warrants exercisable at $0.10 for 24 months). The Non -Flow Through raise of
$364,275 represents 7,285,500 units where each unit consists of one common share at $0.05/share and one
warrant exercisable at $0.075 for 24 months. The proceeds from the flow-through portion of the Offering
will be used for qualified exploration expenditures in Canada, with a focus on the Little Stull Lake Gold
project located in Northeastern Manitoba. The Non Flow Through portion of the Offering will be used for
general corporate purposes.
BWR Exploration Inc. is a public company focused on exploring 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/mining specialists with many decades of operational experience in the junior resource sector.
Prior thi s financing t here were 55,127,461 shares issued in BWR; subsequent to the closing there are
55,727,461 shares issued.
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 information about BWR Exploration Inc. 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 additional information regarding BWR please contact:
Carl Desjardins, PaRadox Public Relations
Cell: 514-618-4477