New stock arbitrage— Bear Creek Mining Corp
Bear Creek Mining Corp is engaged in the acquisition, exploration, and development of precious and base metal properties in Peru. The company’s Corani and Santa Ana Projects collectively host reserves and resources containing nearly 450 million ounces of silver, plus by-product base metals, which provide near-term production potential and leverage to silver prices.
Bear Creek Mining Corporation announced on February 6 that it has entered into an agreement with BMO Capital Markets as sole underwriter, under which BMO has agreed to buy on a bought deal basis 7,145,000 common shares of the Company, at a price of C$2.10 per Common Share for gross proceeds of approximately C$15 million. The offering is expected to close on or about February 18, 2020. The net proceeds of the offering will be used to carry out early development works for the Company’s wholly owned Corani silver-lead-zinc deposit located in the department of Puno, Peru.