Vancouver, British Columbia--(Newsfile Corp. - May 26, 2023) - Bearclaw Capital Corp. (TSXV: BRL.H) ("Bearclaw" or the "Company") is pleased to announce that it has closed the non-brokered private placement (the "Placement") announced on January 12, 2023. The Company issued 3,200,000 units (each, a "Unit") at a price of $0.095 per Unit to raise gross proceeds of $304,000. Each Unit consists of one common share and one quarter of a common share purchase warrant (each, a "Warrant"). Each full Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.125 per common share for a period of 12 months from closing. The funds will be used for general corporate and working capital purposes.
Pursuant to the Placement, the fully-diluted beneficial ownership of the issued and outstanding common shares held by John Ross, a Related Party, will increase to 18.19% (previously 11.61%).
Pursuant to the Placement, the fully-diluted beneficial ownership of the issued and outstanding common shares held by Leslie Ross, a Related Party, will increase to 16.99% (previously 9.25%).
Pursuant to the Placement, the fully-diluted beneficial ownership of the issued and outstanding common shares held by Scott Ross, a Related Party, will increase to 19.79% (previously 14.74%).
Pursuant to the Placement, the fully-diluted beneficial ownership of the issued and outstanding common shares held by Dr. Alison C. Ross FRCSC Inc., a Related Party, will increase to 18.06% (previously 11.36%).
All securities issued in connection with the Placement will be subject to a statutory hold period expiring four months and one day after closing of the Placement.
About Bearclaw Capital Corp.
Bearclaw Capital Corp. is a Canadian public mining exploration company which was incorporated in British Columbia, Canada in 1999.
For further information, please contact:
Scott M. Ross, President
71030-3552 West 41st Avenue
Vancouver, British Columbia, V6N 4J9
Tel: 604-803-4883
Email: scott.ross@bearclawcapitalcorp.com
Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws which is not comprised of historical facts. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Forward-looking information in this news release may include statements made herein with respect to, among other things, the Company's objectives, goals or future plans. Factors that may cause actual results to vary include, but are not limited to, inability to complete the Offering, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing, as well as those risks set out in the Company's public disclosure documents filed on SEDAR. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws.
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