Bear Creek Mining Announces Brokered Private Placement, Appointment of Peter C. Mitchell and Ian Grundy as Directors, Debt Amendments and Credit Extension

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VANCOUVER, British Columbia, March 04, 2025 (GLOBE NEWSWIRE) -- Bear Creek Mining Corporation (TSXV: BCM) (BVL: BCM) (“Bear Creek” or the “Company”) announces that it has entered into an agreement with BMO Capital Markets to act as sole bookrunner, on behalf of a syndicate of underwriters (collectively, the “Underwriters”), on a bought deal basis, for a private placement of 64,445,000 common shares of the Company (each, a “Share”), at a price of C$0.225 per Share (the “Offering Price”) to raise aggregate gross proceeds of approximately C$14.5 million (the “Offering”). Pursuant to the Offering, the Company has granted the Underwriters an option to purchase an additional 9,666,750 Shares pursuant to the Offering for additional gross proceeds of approximately C$2.2 million (the “Underwriters’ Option”). The Company further announces the retirements of Mr. Andrew Swarthout and Ms. Sandra Daycock from the Board and is pleased to announce the appointments of Peter C. Mitchell and Ian Grundy to the Board. In addition, the Company intends to enter into certain amending agreements with each of Sandstorm Gold Ltd. (“Sandstorm”) and Equinox Gold Corp. (“Equinox”) to temporarily defer the payment of interest under certain outstanding debt arrangements, subject to negotiating and entering into such amending agreements and approval and acceptance of same by the TSX Venture Exchange. Furthermore, Sandstorm intends to extend up to US$6.5 million in additional credit to the Company for working capital purposes under the Sandstorm Promissory Note (as defined below).

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