bcMetals Corporation

bcMetals Corporation

January 03, 2007 09:15 ET

bcMetals Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 3, 2007) - bcMetals Corporation (TSX VENTURE:C) announced today that that it proposes to effect a private placement of units to accredited investors to raise proceeds of up to $2,000,000. The subscription price is $1.05 per unit, in accordance with the permitted discount from the current trading price of the bcMetals' common shares prescribed by the policies of the TSX Venture Exchange. Each unit will consist of one common share and one-half of one share purchase warrant. Each whole share purchase warrant entitles the holder to acquire one common share upon payment of additional consideration $1.09, being the closing price of bcMetals' shares on January 2, 2007. The warrants will have a term of one year.

The proceeds from the private placement will be used for general working capital purposes, including professional and advisory fees incurred by bcMetals in connection with its response to and negotiations with Imperial and Taseko.

The completion of the offering of the units is subject to the approval of the TSX Venture Exchange.

Ian Smith, President and Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • bcMetals Corporation
    Ian Smith
    President and Chief Executive Officer
    (604) 683-0140
    (604) 683-0126 (FAX)
    Website: www.bcmetalscorp.com