Bedford Metals Announces Financing for $5 Million at $2.25 Per Share
June 18 2024 - 2:00AM
Bedford Metals Announces Financing for $5 Million at $2.25 Per
Share
Bedford Metals Corp. (TSX-V: BFM) (the “Company” or “Bedford”) is
pleased to announce that it will conduct a non-brokered private
placement (the “Financing”) to raise up to $5 million through the
offering of up to 2,222,223 common shares at a price of $2.25 per
share.
The Financing represents an opportunity for the
Company to bolster its exploration and development activities
across its portfolio of mineral projects. With a focus on enhancing
shareholder value, the Company plans to allocate the funds to
accelerate exploration programs, evaluate strategic growth
opportunities, and for general corporate purposes.
Peter Born, President of Bedford, commented, "We
are excited to pursue this Financing to advance our mineral
projects further and continue building shareholder value. The
support from the market underscores confidence in Bedford's
development plans and will enable us to execute our strategic
initiatives effectively. We look forward to deploying additional
financing prudently to drive growth and maximize the potential of
our assets."
Completion of the Financing remains subject to
the approval of the TSX Venture Exchange. All securities issued in
connection with the Financing will be subject to restrictions on
resale for four months and one day in accordance with applicable
securities laws.
Bedford remains committed to maintaining the
highest standards of environmental stewardship in all its
exploration and development activities. The Company emphasizes
responsible resource development practices and is dedicated to
engaging collaboratively with local communities and indigenous
tribes to ensure sustainable outcomes.
About Bedford
Metals Corp.
Bedford Metals Corp. is a mineral exploration
company. We create value for our shareholders by identifying and
developing highly prospective mineral exploration opportunities.
Our strategy is to advance our projects from discovery to
production.
The Ubiquity Lake Uranium
Project, covering 1382 hectares, lies just south of the
bottom lip of the Athabasca Basin, adjacent to ALX Uranium’s
Carpenter Lake Project to the east. Situated near the Cable Bay
Shear Zone, parallel to the Virgin River Shear Zone, which hosts
Cameco’s Centennial uranium deposit, the project holds immense
potential. Furthermore, it is located 100 km west of Cameco’s
past-producing Key Lake uranium mine, underscoring the strategic
significance of its location.
The Close Lake Uranium Project
lies on the eastern side of the Athabasca Basin, adjoining claims
held by Cameco Corporation, the largest uranium producer in the
world. The claim is approximately 245 hectares and lies within the
primary exploration corridor, which hosts the Keys Lake Mine, the
Cigar Lake Mine and the McArthur River Mine. Access to the property
is done through a network of roads and trails.
For further information, please contact the
Company at info@bedfordmetals.com or 604-622-1199 or visit the
Company’s website at www.bedfordmetals.com.
On behalf of the
Board,
Bedford Metals
Corp.
“Peter Born”President
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may include forward-looking
statements that are subject to risks and uncertainties. All
statements within, other than statements of historical fact, are to
be considered forward looking. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. There can be
no assurances that such statements will prove accurate and,
therefore, readers are advised to rely on their own evaluation of
such uncertainties. We do not assume any obligation to update any
forward-looking statements except as required under the applicable
laws.
CONTACT:
MRKT360 INC
https://mrkt360.com
Alex Zertuche
alexz@mrkt360.com
For E.S.T Office Hours, Call 1 416-477-0587
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