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Bessor Announces Completion of $250,000 Private Loan, The Canadian Business Journal

VANCOUVER, British Columbia, September 20, 2022 (GLOBE NEWSWIRE) — Bessor Minerals Inc. (next:BST.H) (“Besser” or “Ltd.) is pleased to announce that it has completed its previously announced unbrokered private placement offering on September 19, 2022, in addition to its news release dated September 6, 2022. Bessor’s (“common stock”) at a price of $0.05 per share of common stock for an aggregate amount of $250,000 (“private placement”). All securities issued in connection with the private placement are subject to a holding period of 4 months plus his 1 day beginning September 19, 2022. Net proceeds from private placements will be used for the following purposes: potential future acquisitions; and general working capital. The private placement was completed using the prospectus exemption available under the securities laws. This includes the accredited investor waiver and the close friends, family and business associates waiver.

MI 61-101 and TSXV Policy 5.9 Disclosure

Of the 5,000,000 shares of common stock issued through the private placement, 2,000,000 shares of common stock were issued directly or indirectly to Arif Merali, Director of Bessor. Mr. Merali directly acquired 1,000,000 shares of his common stock and indirectly as a beneficial owner of the shares purchased by 1642192 Alberta Ltd. he acquired 1,000,000 shares of common stock.

Bessor states that Section 5.5(b) of Multilateral Document 61-101 – Special Transactions (“MI61-101Because Bessor’s common stock is not listed, it is exempt from the formal evaluation requirements of MI 61-101 and TSX Venture Exchange Policy 5.9 regarding the issuance of common stock to Bessor’s directors on certain markets (and common stock is listed on the TSX Venture Exchange). (listed only on The entity has relied on Section 5.7(1)(b) of MI 61-101 as an exemption from minority approval requirements for issuing MI 61-101 and TSX Venture Exchange Policy 5.9. The shares of common stock to the directors of the company as Bessor are not listed on a designated stock exchange and, at the time the private placement is agreed, the fair market value of the securities distributed under the private placement shall also The consideration received for the Securities will not exceed $2,500,000.

No special committee was set up in relation to the private placement. Bessor’s board of directors has unanimously approved the private placement and no material dissenting views or abstentions have been expressed by any director with respect to the private placement. A material change report submitted in connection with the completion of a private placement shall not be submitted at least 21 days prior to the completion of the private placement, as contemplated by MI 61-101. Bessor believes this short period of time is reasonable and necessary in the circumstances in which the closing of the private placement occurred shortly before the issuance of a material change report on the private placement.

Besser Minerals

Jason Riley
Representative Director and President

FourFor more information, please contact:
PR for investors
Email: [email protected]
Website: www.bessorminerals.com

Both TSX Venture Exchange and its ReRegulated Service Provider (as that term is defined in the TSX Venture Exchange Policy) is responsible for the adequacy or accuracy of this news release.

This news release contains certain forward-looking information. All statements contained herein, other than statements of historical fact, are forward-looking information and involve various risks and uncertainties. In particular, this news release contains forward-looking information relating to: Includes private placements (including potential use of proceeds from private placements), potential exploration and development of Bessor properties, and potential future acquisitions. There is no guarantee that such information is accurate, and actual results and future events may differ materially from those projected in such information. This forward-looking information reflects Bessor’s current beliefs and is based on Bessor’s currently available information and assumptions that he believes to be reasonable. These assumptions include, but are not limited to: The current price of Bessor’s common stock. His Bessor’s current and early understanding and analysis of the project. Bessor’s general and administrative expenses remain constant. Market acceptance of Bessor’s business model, goals and approach. Acquisition probabilities and prices acceptable to Bessor. The feasibility and rationality of research and development of Bessor’s project. Forward-looking information involves known and unknown risks, uncertainties and the actual results, level of activity, performance or achievements of Bessor should not be expressed or implied by such forward-looking information. subject to other factors that can vary significantly. Such risks and other factors may include, but are not limited to: There is no certainty that the ongoing work program will lead to significant or successful exploration and development of Besser’s assets. uncertainty regarding the actual outcome of exploration and development or operating activities; uncertainty regarding the availability and terms of future financing on acceptable terms; and whether permits and other governmental approvals will be obtained in a timely manner. Uncertainty about what. Bessor may be unable to meet its continuing obligations with respect to its assets. Early 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; actual results of current exploration and development or operational activities; competition; and project parameters will change as plans continue to be refined. Accident and other risks inherent in mining. lack of insurance; delay or failure to obtain board or regulatory approval; changes in law, including environmental and income tax laws, that affect Bessor; Economic evaluation conclusions; shortage of qualified and skilled workers, or loss of key figures. A description of additional risk factors that could cause actual results to differ materially from the forward-looking information is set forth in her Bessor disclosure document on the SEDAR website (www.sedar.com). Although Bessor has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, Bessor has determined that other factors could cause results to not be as anticipated, estimated or intended. may also be in Accordingly, readers should not place undue reliance on forward-looking information. Bessor does not undertake to update forward-looking information, except in accordance with applicable securities laws.


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Bessor Announces Completion of $250,000 Private Loan, The Canadian Business Journal

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