BOWMORE Closes Private Placement
February 04 2014 - 3:44PM
Marketwired
BOWMORE Closes Private Placement
MONTREAL, QUEBEC--(Marketwired - Feb 4, 2014) - Bowmore
Explorations Ltd. (the "Company" or "Bowmore") (TSX-VENTURE:BOW)
(FRANKFURT:OB5) is pleased to announce that it has closed the
second portion of its non-brokered private placement (News release
December 20, 2013) in the amount of $325,110 (the "Placement") with
Canadian investors consisting of 2,500,848 units (the "Units") at a
price of $0.13 per Unit. Each Unit is comprised of one common share
and one-half of one common share purchase warrant. Each whole
warrant entitles the holder thereof to purchase one common share of
Bowmore at a price of $0.20 each for a twenty four month
period.
The net proceeds raised from the Placement will be used for
Canadian exploration expenses and working capital.
All securities issued pursuant to the Placement will be subject
to a four month hold period; 2,280,848 units and 220,000 units
having a four month hold period expiring on May 31, and June 4,
2014 respectively.
About BOWMORE
BOWMORE is a Canadian exploration mining company focused on
precious metal exploration in Canada and Mexico. The Company trades
on the TSX Venture Exchange under the symbol "BOW".
For further information on BOWMORE, visit
www.bowmorexploration.com.
Neither 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 release.
Forward-looking statements: Except for statements
of historical facts, all statements in this news release regarding,
without limitation, the Private Placement, new project
acquisitions, future plans and objectives are forward-looking
statements which involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions
actual results and future events could differ materially from those
anticipated in such statements. Factors that may cause the actual
results to differ materially from those in forward-looking
statements include precious metal prices, results of exploration
and development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, continued availability of capital and financing and
general economic, market or business conditions. The Company
cautions the foregoing list of important factors is not exhaustive.
Investors and others who base themselves on the Company's
forward-looking statements should carefully consider the above
factors as well as the uncertainties they represent and the risk
they entail. Please see the public filings of the Company at
www.sedar.com.
Paul DumasPresident & CEOBOWMORE Exploration Ltd.(514)
861-4441info@bowmorexploration.comChristina LalliCorporate
CommunicationsBOWMORE Exploration Ltd.(514)
865-8223clalli@bowmorexploration.comwww.bowmorexploration.com