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VANCOUVER, British Columbia, Feb. 16, 2022 (GLOBE NEWSWIRE) -- BC Moly Ltd. (“BC Moly” or the “Company”) (NEX: BM.H) is pleased to announce that its board of directors has appointed Jerry Wang, the current Chief Financial Officer, to serve as Corporate Secretary of the Company. Mr. Wang’s appointment fills the vacancy created by the recent resignation of Edward Yurkowski.
In addition, the Company has amended the terms of its previously announced non-brokered private placement (the “Offering”). The terms of the Offering will remain the same as those disclosed in the Company’s press release dated February 10, 2022, however, a portion of the Subscription Receipts will now be exchangeable for units, each unit comprised of one Common Share that qualifies as a “flow-through share” within the meaning of the Income Tax Act (Canada) and one Warrant (the “FT Subscription Receipts”). The proceeds raised from the sale of FT Subscription Receipts will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)). Capitalized terms not otherwise defined herein have the meanings attributed to them in the February 10, 2022 press release.
About BC Moly Ltd.:
BC Moly Ltd. is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit. The Storie Property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by paved road) west of Highway 37 which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
BC Moly Ltd.
Chief Executive Officer and Director
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include but are not limited to: the ability of the Company to obtain the approval of the NEX and TSXV in connection with the Offering; the Company’s ability to complete the Offering Reactivation; and the ability of the Company to meet the escrow release.
Forward-looking statements are based on certain assumptions regarding the Company, including expected growth results of operations, performance, continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities, industry trends, the Company attaining approval of the NEX and TSXV to complete the Offering, the Company completing the Offering, and the Company meeting the escrow release conditions. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; income tax and regulatory matters; competition; the inability of the Company to obtain the approval of the NEX and/or TSXV in connection with the Offering; the Company’s inability to complete the Offering; the inability of the Company to meet the escrow release conditions; the Company not utilizing the use of proceeds as outlined herein; and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release has been approved by the board of directors of the Company. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in the Company’s public filings and material change reports that will be filed in respect of the Offering, which are and will be available on SEDAR.