PANAMA CITY, Panama, Sept. 10 /CNW/ -- Bellhaven Copper & Gold, Inc.
(TSX-Venture: BHV) ("Bellhaven" or the "Company") announces that it proposes
to carry out an offering (the "Offering") of convertible debentures (the
"Debentures") in increments of $25,000 so as to raise a minimum of $500,000 to
a maximum of $1,200,000. The proceeds of the Offering will be used for the
development of the Company's Cerro Quema gold project in Panama as well as for
general working capital.
The Debentures will bear interest at 10% per annum and have a term of 12
months, subject to the right of the Company to increase the term by up to a
further 12 months by agreeing to increase the principal amount of the
Debentures. They will also be convertible into units (the "Units") of the
Company at a deemed price equal to the greater of $0.55 per Unit or the latest
price at which the Company has issued securities on a private placement basis
prior to conversion. Each Unit will be comprised of one share and one share
purchase warrant with each warrant entitling the holder to acquire a further
common share of the Company for a term of 2 years at a price equal to 150% of
the Unit price. The interest payable under the terms of the Debentures will
accrue and be payable on repayment or conversion of the Debentures either in
cash or units of the Company at the option of the debentureholder, such units
to be priced in accordance with the policies of the TSX Venture Exchange.
Closing of the Offering remains subject to the acceptance of the TSX
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any units within the United States. The
Debentures have not been offered and will not be registered under the United
States Securities Act of 1933, as amended, or any state securities laws.
Accordingly, the Debentures may not be offered or sold in the United States or
to U.S. persons (as such terms are defined in Regulation S under the 1933 Act)
unless registered under the 1933 Act and applicable state securities laws or
an exemption from such registration is available.
Bellhaven Copper & Gold Inc. is a Panama-based mineral exploration and
development company with a portfolio of gold and copper properties in the
Republics of Panama and Colombia. The company has 31.479 Million shares issued
and outstanding. For more information, please visit the web site at
http://www.bellhavencg.com or call Patrick Abraham in Panama at
On behalf of the board of directors,
Julio C. Benedetti, President, CEO BELLHAVEN COPPER AND GOLD, INC.
Forward Looking Statements: Some statements in this news release contain
forward-looking information. These statements include, but are not limited to,
statements with respect to the completion of transactions, the timing and
amount of issuances of securities and the uses of proceeds. These statements
address future events and conditions and, as such, involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the statements.
Such factors include, among others, the ability to complete contemplated
transactions and share issuances and the uses of proceeds.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Corporate Contact Investor Relations Contact
Julio C. Benedetti, President & CEO Patrick Abraham
Tel: +507-226-3967 Tel: +507-340-9500
Email: firstname.lastname@example.org Email: email@example.com
For further information:
For further information: Corporate, Julio C. Benedetti, President & CEO
of Bellhaven Copper & Gold, Inc., +507-226-3967, firstname.lastname@example.org;
or Investor Relations, Patrick Abraham, +507-340-9500,
email@example.com for Bellhaven Copper & Gold, Inc. Web Site: