(TheNewswire)
Vancouver, B.C. - TheNewswire - October 31, 2023 – Bathurst Metals Corp. ( TSXV:BMV ) ( OTC:BMVVF ) (“Bathurst” orthe “Company”) is pleased to announce the terms of a non-brokeredprivate placement financing of 4,000,000 units of securities (the“FT Units”) on a flow-through basis at a price of $0.10 per FTUnit (the “Flow-Through Offering”). Each FT Unit will consist ofone flow-through common share and one-half of one share purchasewarrant with each whole warrant exercisable to acquire one additionalnon flow-through common share (each a “Warrant Share”) for $0.20per Warrant Share for a period of one year.
The Company also announces aconcurrent non-brokered private placement financing of up to 5,000,000 units (the “Units”) of securities at aprice of $0.08 per Unit for aggregate gross proceeds of up to$400,000.00 (the “Non Flow-Through Offering”). Each Unit will becomprised of one non flow-through common share and onenon-transferable share purchase warrant, with each whole warrantentitling the holder to purchase one additional non flow-throughcommon share at a price of $0.15 per Warrant Share for a period of oneyear.
The Company intends to use the gross proceeds fromFlow-Through Offering to incur Canadian Exploration Expenses that areFlow-Through Mining Expenditures (as such terms are defined in theIncome Tax Act (Canada)). The Company will renounce such CanadianExploration Expenses with an effective date of no later than December31, 2023.
The net proceeds of the Non Flow-Through Offering willbe used to pay agent’s commissions and administrative expenses andprovide working capital
The Flow-Through Offering and the Non Flow-ThroughOffering are subject to the approval of the TSX Venture Exchange. All Shares issued will be subject to a four month and one day holdperiod which will expire on the date that is four months and one dayfrom the date of issue.
Onbehalf of the Board of Directors
Bathurst Metals Corp.
For more information contact Harold Forzley, ChiefExecutive Officer
604-783-4273
Neither TSX Venture Exchange nor itsregulation services provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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