Bessor Announces $125,000 Private Placement Financing and Provides Corporate Update
By GlobeNewswire Published on May 16, 2025, 22:28 IST
Vancouver, BC, May 16, 2025 (GLOBE NEWSWIRE) — Bessor Minerals Inc. (TSXV:BST) ('Bessor' or the 'Corporation') is pleased to announce that it intends to complete a non-brokered private placement offering of up to 6,250,000 common shares in the capital of Bessor (the 'Offered Shares') at a price of $0.02 per Offered Share, for gross proceeds of up to $125,000 (the 'Private Placement').
Bessor intends to complete the Private Placement using available prospectus exemptions under securities laws, including the accredited investor exemption and the close friends, family and business associates exemption. Any investors interested in participating in the Private Placement should contact Bessor pursuant to the contact information set forth below. The closing of the Private Placement is anticipated to occur on or around June 13, 2025. A finder's fee of up to 5% of the gross proceeds of the Private Placement may be paid in cash or Bessor common shares on all or any portion of the Private Placement. The net proceeds from the Private Placement will be used for: potential exploration of Bessor's properties; potential future acquisitions; and general working capital.
It is not anticipated that any new insiders will be created, nor that any change of control will occur, as a result of the Private Placement. Any participation by insiders of Bessor in the Private Placement will be on the same terms as arm's-length investors. There is no minimum aggregate subscription amount for the Private Placement, but the completion of the Private Placement is subject to all regulatory approvals, including TSX Venture Exchange ('TSXV') acceptance. Depending on market conditions, the gross proceeds of the Private Placement could be increased or decreased. All securities issued in connection with the Private Placement will be subject to a hold period of four months and one day from the date of closing.
CORPORATE UPDATE
The Corporation also announces Mr. Ronald H. McMillan has resigned as a director of the Corporation effective May 9, 2025. Mr. McMillan resigned in order to pursue personal interests unrelated to business endeavors.
Jason Riley, the President, CEO and a director of Bessor commented: 'On behalf of the Board, we thank Ron McMillan for his longstanding service and commitment to the Corporation as a director of the Board. We greatly appreciate the guidance, knowledge and expertise that Ron provided over his tenure as a Director, and we wish him all the very best in his future endeavours.'
ABOUT BESSOR MINERALS INC.
Bessor's focus is on exploration and development of the Redhill volcanogenic massive sulphide deposit in British Columbia. In addition, Bessor has a 1% NSR on certain claims in the Blackwater Mine operated by Artemis Gold Inc.
BESSOR MINERALS INC.
Jason Riley
President, CEO & Director
For further information, contact:
Investor Relations Phone: 778-809-1303
Email: [email protected]
Website: www.bessorminerals.com
Neither the TSX 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 news release.
This news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in relation to: the Private Placement, including, the magnitude of the Private Placement, the potential closing date of the Private Placement, the potential use of proceeds of the Private Placement, including potential exploration and development of Bessor's properties and potential future acquisitions, the potential exemptions used for the Private Placement and any potential finder's fee paid on the Private Placement. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects Bessor's current beliefs and is based on information currently available to Bessor and on assumptions Bessor believes are reasonable. These assumptions include, but are not limited to: the current share price of Bessor's common shares; TSXV and market acceptance of the Private Placement; Bessor's current and initial understanding and analysis of its projects; Bessor's general and administrative costs remaining constant; market acceptance of Bessor's business model, goals and approach; the availability of potential acquisitions and prices acceptable to Bessor; and the feasibility and reasonableness of conducting exploration on and developing any of Bessor's projects. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Bessor to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: there is no certainty that the ongoing work programs will result in significant or successful exploration and development of Bessor's properties; uncertainty as to the actual results of exploration and development or operational activities; uncertainty as to the availability and terms of future financing on acceptable terms; uncertainty as to timely availability of permits and other governmental approvals; Bessor may not be able to comply with its ongoing obligations regarding its properties; the early stage development of Bessor and its projects; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting Bessor; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors which may cause actual results to differ materially from forward-looking information can be found in Bessor's disclosure documents on the SEDAR+ website at www.sedarplus.com. Although Bessor has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Bessor does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
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