TSX-V Symbol: BCU
VANCOUVER, May 11 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper" or the "Company") (TSXV: BCU) is pleased to announce that
further to its news release dated April 28, 2011, the Company has
completed the first tranche of its brokered private placement with D&D
Securities Inc. and Delano Capital Corp. and has issued 14.55 million
units at a price of $0.20 per unit for gross proceeds of $2,910,000.
Each unit consists of one common share and one common share purchase
warrant, with each warrant entitling the holder to purchase an
additional common share of the Company for an 18 month period at a
price of $0.35 per share. Insiders of the Company have subscribed for
$521,000 of this first tranche of the placement. All common shares
issued in connection with the units are subject to a regulatory hold
period restricting them from being traded until September 7, 2011. The
Company expects to close on the $1.59 million balance of the private
placement by the end of this week.
At the time of the closing of this first tranche of the private
placement, and as part of the Company's previously announced debt
restructuring with Macquarie Bank Limited ("Macquarie"), Macquarie
exchanged C$2,300,328 of debt into 11,501,640 units, having the same
terms and conditions as the units issued in the private placement.
The foregoing is subject to final regulatory approval.
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 and the Southwestern US.
More information on Bell Copper: www.bellcopper.net
On behalf of the Board of Directors of
Bell Copper Corporation
Michael Werner, 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
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