Bear Creek Mining Announces New Senior Vice President, Business Development, and Drawdown of Funds Under 2025 Sandstorm Note
Bear Creek Mining (OTCQX: BCEKF) has announced two significant developments. First, the company appointed Eduardo Flores as Senior Vice President of Business Development, bringing over 30 years of mining industry experience from companies like Antofagasta, Barrick, and Kinross. Second, the company has drawn down US$1.2 million from its 2025 Sandstorm Note, which has a maximum principal amount of US$6.5 million.
The Sandstorm Note bears a 7% annual interest rate, matures on September 22, 2028, and allows monthly drawdowns up to US$600,000. Interest payments from June to November 2025 are deferred until December 31, 2025. The company plans to seek TSX Venture Exchange approval for a conversion right at C$0.73 per common share, with Sandstorm's ownership restricted to 19.99% on a non-diluted basis.
Bear Creek Mining (OTCQX: BCEKF) ha annunciato due importanti novità. Innanzitutto, la società ha nominato Eduardo Flores Vicepresidente Senior dello Sviluppo Commerciale, portando con sé oltre 30 anni di esperienza nell’industria mineraria, maturata in aziende come Antofagasta, Barrick e Kinross. In secondo luogo, l’azienda ha prelevato 1,2 milioni di dollari USA dal suo Sandstorm Note 2025, che ha un importo massimo principale di 6,5 milioni di dollari USA.
Il Sandstorm Note prevede un tasso di interesse annuo del 7%, scade il 22 settembre 2028 e consente prelievi mensili fino a 600.000 dollari USA. I pagamenti degli interessi da giugno a novembre 2025 sono differiti fino al 31 dicembre 2025. La società intende richiedere l’approvazione della TSX Venture Exchange per un diritto di conversione a 0,73 dollari canadesi per azione ordinaria, con la proprietà di Sandstorm limitata al 19,99% su base non diluita.
Bear Creek Mining (OTCQX: BCEKF) ha anunciado dos desarrollos significativos. Primero, la compañía nombró a Eduardo Flores como Vicepresidente Senior de Desarrollo Comercial, aportando más de 30 años de experiencia en la industria minera en empresas como Antofagasta, Barrick y Kinross. Segundo, la empresa ha retirado 1,2 millones de dólares estadounidenses de su Nota Sandstorm 2025, que tiene un monto principal máximo de 6,5 millones de dólares estadounidenses.
La Nota Sandstorm tiene una tasa de interés anual del 7%, vence el 22 de septiembre de 2028 y permite retiros mensuales de hasta 600,000 dólares estadounidenses. Los pagos de intereses de junio a noviembre de 2025 se difieren hasta el 31 de diciembre de 2025. La compañía planea solicitar la aprobación de la TSX Venture Exchange para un derecho de conversión a 0,73 dólares canadienses por acción común, con la propiedad de Sandstorm limitada al 19,99% en base no diluida.
Bear Creek Mining (OTCQX: BCEKF)는 두 가지 중요한 소식을 발표했습니다. 첫째, 회사는 에두아르도 플로레스를 사업개발 수석 부사장으로 임명했으며, 그는 Antofagasta, Barrick, Kinross 등에서 30년 이상의 광산업 경험을 보유하고 있습니다. 둘째, 회사는 최대 원금 650만 달러인 2025년 만기 Sandstorm Note에서 120만 달러를 인출했습니다.
Sandstorm Note는 연 7%의 이자율을 적용하며, 2028년 9월 22일 만기이고 월 최대 60만 달러까지 인출이 가능합니다. 2025년 6월부터 11월까지의 이자 지급은 2025년 12월 31일까지 연기됩니다. 회사는 TSX 벤처 거래소의 승인을 받아 보통주 주당 0.73 캐나다 달러의 전환권을 신청할 계획이며, Sandstorm의 지분은 비희석 기준으로 19.99%로 제한됩니다.
Bear Creek Mining (OTCQX : BCEKF) a annoncé deux développements importants. Premièrement, la société a nommé Eduardo Flores Vice-Président Senior du Développement Commercial, apportant plus de 30 ans d’expérience dans l’industrie minière auprès d’entreprises telles qu’Antofagasta, Barrick et Kinross. Deuxièmement, la société a tiré 1,2 million de dollars US de sa Note Sandstorm 2025, dont le montant principal maximal est de 6,5 millions de dollars US.
La Note Sandstorm porte un taux d’intérêt annuel de 7%, arrive à échéance le 22 septembre 2028 et permet des tirages mensuels allant jusqu’à 600 000 dollars US. Les paiements d’intérêts de juin à novembre 2025 sont différés jusqu’au 31 décembre 2025. La société prévoit de demander l’approbation de la TSX Venture Exchange pour un droit de conversion à 0,73 dollar canadien par action ordinaire, la participation de Sandstorm étant limitée à 19,99 % sur une base non diluée.
Bear Creek Mining (OTCQX: BCEKF) hat zwei bedeutende Entwicklungen bekannt gegeben. Erstens hat das Unternehmen Eduardo Flores zum Senior Vice President für Geschäftsentwicklung ernannt, der über 30 Jahre Erfahrung in der Bergbauindustrie bei Unternehmen wie Antofagasta, Barrick und Kinross mitbringt. Zweitens hat das Unternehmen 1,2 Millionen US-Dollar von seiner Sandstorm-Note 2025 abgerufen, die einen maximalen Nennbetrag von 6,5 Millionen US-Dollar hat.
Die Sandstorm-Note trägt einen jährlichen Zinssatz von 7%, läuft am 22. September 2028 ab und erlaubt monatliche Abrufe von bis zu 600.000 US-Dollar. Zinszahlungen von Juni bis November 2025 werden bis zum 31. Dezember 2025 aufgeschoben. Das Unternehmen plant, die Genehmigung der TSX Venture Exchange für ein Umwandlungsrecht zu 0,73 kanadischen Dollar pro Stammaktie einzuholen, wobei Sandstorms Eigentumsanteil auf 19,99 % auf nicht verwässerter Basis begrenzt ist.
- Appointment of highly experienced mining executive Eduardo Flores with 30+ years of industry expertise
- Access to additional working capital through US$6.5 million Sandstorm Note facility
- Flexible financing terms with deferred interest payments until December 31, 2025
- Company taking on additional debt with 7% interest rate
- Potential future dilution if conversion rights are approved and exercised
- Only US$600,000 monthly drawdown limit with Sandstorm's discretionary approval required
Vancouver, British Columbia--(Newsfile Corp. - May 22, 2025) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) ("Bear Creek" or the "Company") is pleased to announce the hiring of Mr. Eduardo Flores in the position of Senior Vice President, Business Development. Eduardo is a mining industry executive with over 30+ years of experience in leading, advancing, and operating global mining companies through the discovery and exploration phases, as well as financing, construction, and operations in multiple countries. He possesses a strong background in strategic leadership and extensive cross-cultural and industry knowledge, with a focus on driving sustainable growth. Eduardo serves as an investment partner at 30N Venture Capital, where he offers strategic guidance and oversight on investment decisions. Previously, he held senior leadership roles in several companies in the base and precious metals sector, including Antofagasta plc, Barrick, and Kinross, most recently acting as CEO of Grupo Minero Bacis in Mexico. Eduardo also served as the VP of Corporate Development at Mineros SA in Colombia, where he successfully facilitated the company's listing on the TSX and implemented strategies for inorganic growth. He earned degrees in Electrical Engineering and Industrial Engineering from Universidad Técnica Federico Santa María in Chile and is a certified Board Director by the NACD in Washington, USA.
The Company also announces that pursuant to the secured promissory note (the "2025 Sandstorm Note") issued to a wholly owned subsidiary of Sandstorm Gold Ltd. ("Sandstorm") on May 8, 2025, funds in the amount of US
The principal amount of the 2025 Sandstorm Note is a maximum of US
The Company expects that, following receipt of the funds under the 2025 Sandstorm Note, it will apply to the TSX Venture Exchange (the "TSXV") for approval of a conversion right with a conversion price of C
On behalf of the Board of Directors,
Eric Caba
President and Chief Executive Officer
For further information, contact:
Barbara Henderson - VP Corporate Communications
Direct: 604-628-1111
E-mail: barb@bearcreekmining.com
www.bearcreekmining.com
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Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements regarding: future drawdowns under the 2025 Sandstorm Note; the use of proceeds from the Draw; the possible conversion by Sandstorm of the outstanding principal and deferred interest of the 2025 Sandstorm Note to common shares of the Company, the Company's payment of the interest and principal due under the 2025 Sandstorm Note, future revenue from operations at the Mercedes Mine, and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts as well as the Company's expectations with respect to such matters. These forward-looking statements are provided as of the date of this news release, or the effective date of the documents referred to in this news release, as applicable, and reflect predictions, expectations or beliefs regarding future events based on the Company's beliefs at the time the statements were made, as well as various assumptions made by and information currently available to them. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to: the Company's ability to make monthly interest payments and fund the repayment of the 2025 Sandstorm Note and the Company's ability to obtain approval of the conversion right from the TSXV. Although management considers these assumptions to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions expressed above do not occur, but specifically include, without limitation, risks relating to general market conditions and the additional risks described in the Company's latest Annual Information Form, and other disclosure documents filed by the Company on its SEDAR+ page at www.sedarplus.ca. The foregoing list of factors that may affect future results is not exhaustive. Investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252996
FAQ
Who is Eduardo Flores and what is his role at Bear Creek Mining (BCEKF)?
What are the key terms of Bear Creek Mining's 2025 Sandstorm Note?
How much has Bear Creek Mining (BCEKF) drawn from the Sandstorm Note and what's the remaining amount?
What is the proposed conversion price for the Sandstorm Note and are there any limitations?
