On January 15, 2021, Bear Creek Mining Corporation (TSXV: BCM) (BVL: BCM) (“Bear Creek”) announced the closing of a bought deal financing (the “Offering”). The Offering was conducted by a syndicate of underwriters led by Stifel GMP, and including BMO Capital Markets and Canaccord Genuity Corp. (collectively, the “Underwriters”).
Pursuant to the Offering, the Company issued a total of 10,000,000 common shares (the “Common Shares”), at a price of C$3.00 per Common Share for gross proceeds of C$30 million. The Underwriters also exercised their over-allotment option in full to purchase an additional 1,500,000 Common Shares for additional gross proceeds of C$4.5 million. Including the proceeds from the exercise of the over-allotment option, the total gross proceeds of the Offering are C$34.5 million with an aggregate of 11,500,000 Common Shares being issued.
Bear Creek is a leading Peru-focused silver exploration and development company headquartered in Vancouver, Canada.
Miller Thomson advised Bear Creek with a team led by Lucy Schilling (Capital Markets & Securities), and comprised of Peter McArthur, Gosia Piasecka and Monika Satani (Capital Markets & Securities); and Catherine Brayley and Lesley Kim (Corporate Tax).