TSX-V Symbol: BCU
VANCOUVER, May 17 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper" or the "Company") (TSX-V Symbol: BCU) announces it will be conducting a non-brokered private placement of up to 10,000,000 units ("Units") at a price of $0.30 per Unit to raise proceeds of up to $3,000,000.
Each Unit will consist of one common share and one share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of $0.50 per share for a period of one year from closing (the "Unit Warrants"). The Unit Warrants are subject to the right of the Company to accelerate the exercise period for the Unit Warrants if the common shares of the Company trade above $1.00 for a period of 10 consecutive trading-days.
The proceeds of the private placement will be used for the current work programs, the La Balsa Feasibility Study, retiring debt and for general working capital purposes.
The Company intends to pay a finder's fee incidental to the financing in accordance with Exchange policies. The private placement and payment of a finder's fee are subject to TSX Venture Exchange acceptance.
The Company further announces that on May 12, 2010 a total of 10,953,000 warrants exercisable into Bell Copper common shares expired.
About Bell Copper
Bell Copper is a public company with a focus on copper exploration, development and production in North America. The Company has an extensive portfolio of exploration and development projects located in some of North America's premier copper producing regions including Mexico, the Southwestern US and Northwestern British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
BELL COPPER CORPORATION
CEO & Director
"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."
SOURCE Bell Copper Corporation
For further information: For further information: Bell Copper Corporation: Sarah Stephanson, Executive Assistant, (604) 669-1484, email@example.com, www.bellcopper.net; Renmark Financial Communications Inc.: Christine Stewart: firstname.lastname@example.org; Jason Roy: email@example.com, (514) 939-3989, (416) 644-2020, www.renmarkfinancial.com