Bear Creek Mining Corporation announced that it has entered into an agreement with new investor BMO Capital Markets to issue 27,200,000 units at a price of CAD 0.35 per unit for gross proceeds of CAD 9,520,000 on bought deal basis on September 28, 2023. Each unit will be comprised of one common share of the company and one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share of the company for a period of 60 months following the closing date of the offering at an exercise price of CAD 0.42 per warrant share, subject to adjustment in certain events.

The company has granted Bank of Montreal a 30 day option to purchase up to an additional 15% of the units offered in the offering on the same terms and conditions. The over-allotment option may be exercised in whole or in part to purchase common shares, warrants or units as determined by the investor. The offering is expected to close on or about October 5, 2023 and is subject to the company receiving all necessary regulatory approvals.