Bowmore Announces $1.5 Million Private Placement
BOWMORE Exploration Ltd. is pleased to announce that it has negotiated, subject to regulatory approval, a non-brokered private placement for total gross proceeds of up to $1,500,000. The Private Placement will consist of up to 3 million flow-through units at a price of $0.50 per Unit, each Unit consisting of one common share to be issued as a “flow-through” share for the purposes of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each Warrant will entitle the holder to acquire one non flow-through common share of the Company for a period of twenty four (24) months at an exercise price of $0.75 per share.