MONTRÉAL, QUÉBEC–(Marketwired – Feb. 4, 2014) – Bowmore Explorations Ltd. (the “Company” or “Bowmore”) (TSX VENTURE:BOW) (FRANKFURT:OB5) is pleased to announce that it has closed the second portion of its non-brokered private placement (News release December 20, 2013) in the amount of $325,110 (the “Placement“) with Canadian investors consisting of 2,500,848 units (the “Units“) at a price of $0.13 per Unit. Each Unit is comprised of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share of Bowmore at a price of $0.20 each for a twenty four month period.
The net proceeds raised from the Placement will be used for Canadian exploration expenses and working capital.
All securities issued pursuant to the Placement will be subject to a four month hold period; 2,280,848 units and 220,000 units having a four month hold period expiring on May 31, and June 4, 2014 respectively.
About BOWMORE
BOWMORE is a Canadian exploration mining company focused on precious metal exploration in Canada and Mexico. The Company trades on the TSX Venture Exchange under the symbol “BOW”.
For further information on BOWMORE, visit www.bowmorexploration.com.
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.
President & CEO
BOWMORE Exploration Ltd.
(514) 861-4441
[email protected]
Christina Lalli
Corporate Communications
BOWMORE Exploration Ltd.
(514) 865-8223
[email protected]
www.bowmorexploration.com