VANCOUVER, British Columbia, Nov. 13 /CNW/ -- Bellhaven Copper & Gold,
Inc. (TSX-Venture: BHV) ("Bellhaven" or the "Company") is pleased to announce
a non-brokered private placement of 4,222,223 Units at a price of CA$.90 per
Unit for total gross proceeds of CA$3.8 million (which may be increased by the
issuer). The private placement will be on a "best efforts/commercially
reasonable" basis. Each Unit consists of one common share and one-half of one
share purchase warrant, each warrant exercisable into one Share of the Company
for a period of two years at a price of CA$1.45. The Units will be subject to
a 4 month trading restriction beginning on the day of issuance. Beginning 4
months and one day from the date of issuance of the Units, BHV will reserve
the right to accelerate the exercise period of the Warrant should its common
stock trade above CA$2.45 for 20 consecutive trading days. On the 21st
trading day BHV could then serve notice, in writing or by broadly disseminated
news over nationally recognized news wires, to the Warrant holders informing
them that the Warrant will expire worthless unless exercised within 15 trading
days beginning on the date of distribution of the Warrant acceleration notice.
This right to accelerate the term of the Warrant is applicable during the
term of the Warrant.
The proceeds of the private placement will be used for property purchase
payments, equipment purchase payments, and working capital related to
development of the Cerro Quema Gold Project. Bellhaven reserves the right to
cancel or modify the type, nature, and/or price of the units or to increase
the amount of the offering for any reason. A finder's fee of 7% payable in
cash and 8% payable by Agent's warrants will be paid where appropriate.
On behalf of the board of directors,
Julio C. Benedetti, President, CEO BELLHAVEN COPPER & GOLD, INC.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
For further information:
For further information: Julio Benedetti, +1-507-226-3967, or Investor
Relations Contact: Miguel Villahermosa, 1-866-599-5930 Web Site: