Canada Markets closed

BWR Exploration Inc. (BWR.V)

TSXV - TSXV Real Time Price. Currency in CAD
Add to watchlist
0.04000.0000 (0.00%)
At close: 3:52PM EDT
Full screen
Loading interactive chart...
  • BWR Exploration Inc. provides update on Little Stull Lake Gold
    GlobeNewswire

    BWR Exploration Inc. provides update on Little Stull Lake Gold

    TORONTO, Oct. 23, 2020 (GLOBE NEWSWIRE) -- BWR Exploration Inc. (TSXV:BWR) (“BWR”) exploration personnel, along with two members of Manto Sipi Cree Nation from God’s River, Manitoba, have recently completed a clean-up and base line site visit to the Little Stull Lake exploration camp, located in NE Manitoba, in anticipation of a proposed exploratory drilling program, that BWR is planning during the winter of 2020/21. Chief and Council of Manto Sipi Cree Nation (“MSCN”), in consultation with BWR as well as the Province of Manitoba, requested that the Little Stull Lake exploration camp undergo a clean-up program, as there was concern from community members on how the camp had been left by previous exploration campaigns. After 12 years of dormancy since the last drill program on the project, all remaining fuel drums (diesel fuel), have now been checked for leakage and have been re-purposed as furnace and stove oil and are now safely stored in a temporary poly berm. The old berm that was put in place in 2007 had deteriorated over the years; all empty fuel barrels and propane tanks have now been removed from the project and have been disposed of properly. While in the camp (October 12-17) a soil sampling survey to test for contaminants related to improper fuel storage was also completed. Several soil samples were collected in and around the fuel storage area which will be analyzed for petroleum products to determine the extent, if any, of contamination by a laboratory in Winnipeg. The environmental and site visit report will be submitted to MSCN’s Chief and Council once the analyses of the samples become available, along with any remediation recommendations. In addition to the clean-up and soil sampling, one member of the MSCN community visited several of the proposed drill site locations accompanied by BWR’s geologist, and the member now has a better understanding of the environmental disturbance that exploratory drilling poses, and what historical drill sites look like after a decade of natural regrowth, that he can share with his community.Over the past few years, BWR has shown high respect for the process and the confidential nature of the negotiations and discussions that are being held between the Province and both communities. BWR has been in consultation with the Manitoba Ministry of Agriculture and Resource Development (“ARD”) working alongside the Ministry of Indigenous and Northern Relations (“INR”) prior to and since their announcement of November 21, 2019, where Minister Blaine Pedersen and Minister Eileen Clarke signed a new consultation protocol agreement with former Chief Oliver Okemow of the MSCN. The signing was followed by several months of negotiations that eventually lead to the request by the newly elected Chief (Chief John Ross) and Council to have BWR complete an initial base line and environmental site visit.BWR was advised in early January 2020 by ARD that consultation between BWR, MSCN and the Province was ready to advance, however it involved several meetings, some of which would need to be held in the community. The first “in-community-meeting” was held on January 24, 2020. A second in-community-meeting was planned for March 13, 2020, however this meeting was postponed due to unforeseen events including the Covid-19 pandemic with its related travel restrictions. All travel in and out of northern Manitoba communities was prohibited and restricted to emergency personnel only in mid-March 2020, since then phase 2 and 3 cautionary openings occurred in the spring and then summer when local travel could resume to the northern communities, however, only residents of Manitoba and western Canada as well as northwest Ontario would be permitted to travel to northern regions of Manitoba as per phase 3 guidelines.The Little Stull Lake Gold project is located within the traditional territories of both God’s Lake First Nation (“GLFN”) and Manto Sipi Cree Nation (“MSCN”). These two communities are related but are separately governed, and as such BWR needs to respect their commonality as well as their individuality as Nations. BWR understood that the new consultation protocol agreement signed in late 2019 addressed some, but not all of the outstanding issues as they pertain to BWR’s proposed early stage exploration program on MSCN Treaty Land Entitlement selections, four of which overlap on BWR mineral claims in the Little Stull Lake Gold project area. BWR continues to support the objectives of the protocol consultation process and now anticipates engaging in relevant and consequential consultation with MSCN over the next while, involving but not limited to the creation of a partnership with the community, that will include implementing Covid-19 mitigation measures for use of the camp under the supervision of MSCN. Tightly monitored exploration should be able to advance under an early stage exploration work permit, allowing BWR to proceed with financing for the project for an exploratory drilling program in Q1 2021 anticipated to include the drilling of 2,000 meters in 10 holes, followed by additional exploration drilling (to be determined) during the spring/summer of 2021.BWR Exploration Inc. is a public company focused on exploring for base and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector. There are currently 89,502,461 shares issued in BWR Exploration.Neither the Toronto 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.For information about BWR Exploration Inc. please visit our website: http://www.bwrexploration.comor call/email: Neil Novak, P.Geo., President, CEO & Director, BWR Exploration Inc. 82 Richmond St. E, Toronto, ON M5C 1P1 Office (416) 848 6866 nnovak@bwrexploration.comFor additional information regarding BWR please contact:Carl Desjardins, Paradox Investor Services Inc. Cell: 514-618-4477 carldesjardins@paradox-pr.ca

  • GlobeNewswire

    BWR Exploration Inc. Closes Second and Final Tranche of Private Placement

    TORONTO, Sept. 21, 2020 (GLOBE NEWSWIRE) -- BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) is pleased to announce the closing of the second and final tranche (the “Closing”) of the previously announced non-brokered private placement (the “Offering”) for aggregate gross proceeds of $140,000, on September 18, 2020, through the purchase of 2,800,000 Units consisting of 2,800,000 common shares (“Common Shares”) plus 1,400,000 warrants, issued in connection with the Closing. As previously announced, each Unit consists of 1 Common Share, plus one half of one common share purchase warrant (a “Warrant”) of the Company. Each Full Warrant will expire 36 months from the date of issue (the “Full Warrant Expiry Date”) and will entitle the holder thereof to purchase one Common Share (a “Full Warrant Share”) at a price of $0.075 per Full Warrant Share within 24 months from the date of issue and for the period that is for 24 months plus one day from the date of issue until the Full Warrant Expiry Date at a price of $0.10 per Full Warrant Share.Together, the total proceeds raised from the Offering, including the closing of the first tranche announced on September 17, 2020, have resulted in aggregate gross proceeds of $500,000 through the purchase of 10,000,000 Units.All securities issued have a hold period of 4 months plus one day, which expires on January 19, 2021 for this tranche, pursuant to the Closing.While the Offering was effected by the Company on a non-brokered basis, the Company paid finder’s fees to two arm’s-length third parties, Raymond James Ltd. and Industrial Alliance Securities Inc. (collectively, the “Brokers”). The fees for each of the Brokers consisted of: (i) cash commissions representing 8% of the gross proceeds raised by the Broker in the Offering; and (ii) broker warrants (“Broker Warrants”) representing 8% of the total number of Units raised by the Broker in the Offering. Pursuant to this, Raymond James Ltd. received $4,800 cash commission and 96,000 Broker Warrants, and Industrial Alliance Securities Inc. received $8,800 cash commission and 176,000 Broker Warrants, in connection with the Offering. Each Broker Warrant will entitle the holder thereof to purchase one Common Share of the Company at the Exercise Price of $0.075 for 24 months from the date of issue.As previously announced, two insiders participated in the Offering, subscribing for an aggregate 2,400,000 Units for net proceeds to the Company of $120,000.The proceeds from the Offering will be used for general corporate purposes, with a focus on the Little Stull Lake Gold project located in Northeastern Manitoba.Discussions continue between BWR, the Crown and First Nations proponents for the start-up of a field program at Little Stull Lake. All proponents must adhere to and follow the precautionary guidelines recommended by the Chief Public Health Officer (the “CPHO”). The CPHO announced on September 19, 2020 that Covid-19 is still a threat across Manitoba. Although transmission levels are low, the response level has been set at yellow and travel to Northern Manitoba where the project is located is still restricted. This temporary restriction in travel should not pose a huge delay to the project since BWR anticipates utilizing Manitoba based contractors including members of the local community for the proposed project.BWR Exploration Inc. is a public company focused on exploring for base and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector in Canada and abroad. Prior to this financing there were 79,502,461 shares issued in BWR; subsequent to the closing there are 89,502,461 shares issued.Neither the Toronto 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.For more information about BWR please visit our website: http://www.bwrexploration.com or call/email:Neil Novak, P.Geo., President, CEO & Director, BWR Exploration Inc. 82 Richmond St. E Toronto, ON M5C 1P1 Office: 416-848-6866 nnovak@bwrexploration.comFor information regarding this financing please contact:Carl Desjardins, Paradox Investor Services Inc. Cell: 514-618-4477 carldesjardins@paradox-pr.ca

  • GlobeNewswire

    BWR Exploration Inc. Closes First Tranche of Private Placement

    TORONTO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- BWR Exploration Inc. (TSX.V: BWR) (“BWR” or the “Company”) is pleased to announce the closing of the first tranche (the “Closing”) of the previously announced non-brokered private placement (the “Offering”) for aggregate gross proceeds of $360,000, on September 16, 2020, through the purchase of 7,200,000 Units consisting of 7,200,000 common shares (“Common Shares”) plus 3,600,000 warrants, issued in connection with the Closing. As previously announced, each Unit consists of 1 Common Share, plus one half of one common share purchase warrant (a “Warrant”) of the Company. Each Full Warrant will expire 36 months from the date of issue (the “Full Warrant Expiry Date”) and will entitle the holder thereof to purchase one Common Share (a “Full Warrant Share”) at a price of $0.075 per Full Warrant Share within 24 months from the date of issue and for the period that is for 24 months plus one day from the date of issue until the Full Warrant Expiry Date at a price of $0.10 per Full Warrant Share.All securities issued have a hold period of 4 months plus one day, which expires on January 17, 2021 pursuant to the Closing.The gross proceeds raised were $360,000. However, as previously announced, the Unit Offering was for aggregate proceeds of up to $500,000, so the remaining available Units in the Offering are 2,800,000 Units for aggregate proceeds of $140,000 which remain open and available. The Company has elected to complete a further closing on or about September 18, for all or a portion of the above residual amount.While the Unit Offering was effected by the Company on a non-brokered basis, the Company paid finder’s fees to an arm’s-length third party, Raymond James Ltd. (the “Broker”), consisting of: $4,800 cash commission representing 8% of the gross proceeds of the Unit Offering raised by the Broker; and (ii) 96,000 broker warrants (“Broker Warrants”) representing an amount up to 8% of the total number of Units of the Unit Offering raised by the Broker. Each Broker Warrant will entitle the holder thereof to purchase one Common Share of the Company at the Exercise Price of $0.075 for 24 months from the date of issue.Two insiders participated in this financing, subscribing for 2,400,000 Units for net proceeds to the Company of $120,000.The proceeds from the Offering will be used for general corporate purposes, with a focus on the Little Stull Lake Gold project located in Northeastern Manitoba.BWR Exploration Inc. is a public company focused on exploring for base and precious metals, with its flagship Little Stull Lake Gold Project in NE Manitoba along with other exploration projects in Northern Ontario, and Northern Quebec, Canada. Management of BWR includes an accomplished group of exploration/mining specialists with many decades of operational experience in the junior resource sector in Canada and abroad. Prior to this financing there were 79,502,461 shares issued in BWR; subsequent to the closing there are 86,702,461 shares issued.Neither the Toronto 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.For more information about BWR please visit our website: http://www.bwrexploration.com or call/email: Neil Novak, P.Geo., President, CEO & Director, BWR Exploration Inc. 82 Richmond St. E Toronto, ON M5C 1P1 Office: 416-848-6866 nnovak@bwrexploration.comFor information regarding this financing please contact: Carl Desjardins, Paradox Investor Services Inc. Cell: 514-618-4477 carldesjardins@paradox-pr.ca