Bedford Metals Corp V.BFM

All those warrants makes this look a little pricy

[7Twiggy]

Completed a little more DD.  There were a lot of .11c warrants issued that have a fairly long run way. Wonder if someone holding some of these is unloading. Glad I did not pull the trigger. Will hold on to my Centerra gold golding. It pays a nice little dividen and not near as risky IMO.


BEDFORD METALS ANNOUNCES CLOSING OF PRIVATE PLACEMENT

August 18, 2023 – Vancouver, British Columbia – Bedford Metals Corp. (the “Company”) (TSXV: BFM) announces that it has completed its non-brokered private placement (the “Offering”) of convertible debentures units (the “Debenture Units”) and has issued 447.5 Debenture Units, at a price of $1,000 per Debenture Unit, for gross proceeds of $447,500. 

Each Debenture Unit consists of: (i) one unsecured convertible debenture (each, a “Convertible Debenture”) in the principal amount of $1,000 maturing on August 18, 2028 (the “Maturity Date”); and (ii) 9,090 detachable common share purchase warrants of the Company (each, a “Warrant”).  In connection with completion of the Offering, the Company has issued 4,067,775 Warrants. 

Each Convertible Debenture bears interest at a rate of eight percent per annum, payable upon the Maturity Date.   Each Warrant entitles the holder purchase one common share of the Company at a price of $0.11 until August 18, 2028.  The principal amount of the Convertible Debentures is convertible into common shares of the Company (each, a “Conversion Share”), at the option of the holder, at a rate of one Conversion Share for every $0.11 of outstanding indebtedness. 

The proceeds of the Offering will be utilized by the Company for general working capital purposes and to complete planned work at its wholly-owned Margurete Gold Project, located at Phillips Arms in southwestern British Columbia. 

No finders’ fees or commissions were paid in connection with completion of the Offering.  All securities issued in connection with the Offering are subject to a statutory hold period until December 19, 2023 in accordance with applicable securities laws.   

For further information, contact Peter Born at [e-mail]. 

On behalf of the Board,
Bedford Metals Corp.
Peter Born, Chief Executive Officer