VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2012) - BCM Resources Corporation (TSX VENTURE:B) the "Company" announces that it has arranged to settle the outstanding debt owed to certain arms-length service providers by issuing an aggregate of 1,101,500 common shares at a deemed price of $0.10 Cdn. per common share. The amount of indebtedness settled by this arrangement is $110,136 Cdn.
Such arrangement is subject to approval from the TSX Venture Exchange.
The common shares that will be issued in connection with this debt settlement will be subject to a hold period of four months and one day from issuance. The amount of shares proposed to be issued for debt have been rounded to the nearest board lot.
About BCM Resources Corporation
BCM Resources Corp. is a Vancouver-based mineral exploration company, dedicated to advancing its Shan South molybdenum discovery. The Company is also the holder of a significant land package of 100% owned mineral claims comprising another five properties near Terrace, B.C. All of these are considered to be highly prospective for molybdenum and other base & precious metals.
On Behalf of the Board of Directors:
Dale McClanaghan, President & CEO
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.