BOWMORE announces $1 Million private placement.
Montréal, Québec – May 11th, 2009 – BOWMORE Exploration Ltd. (BOW: TSX-V, “The Company”) is pleased to announce that it has negotiated, subject to regulatory approval a non-brokered private placement (the “Private Placement”) of a maximum of 5 million units (the “Units”) at a price of $0.18 per unit, each Unit consisting of one (1) common share and one (1) warrant (the “Warrant”), with each Warrant exercisable to purchase one common share of the Company for a period of 4 years at an exercise price of $0.35 per share, for total gross proceeds of $1,000,000.
The proceeds from the Private Placement will be used for exploration work on its recently acquired Santa Elvira property and for working capital purposes.
The closing of the financing is subject to TSX Venture Exchange approval.
About BOWMORE
BOWMORE is a Canadian exploration mining company focused on precious metal exploration in Mexico.
The Company trades on the TSX Venture Exchange under the symbol “BOW”.
For further information on BOWMORE, visit www.bowmorexploration.com or contact:
Paul A. Dumas
President & CEO
BOWMORE Exploration Ltd.
(514) 861 4441
Email: info@bowmorexploration.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this
Press release.
Forward-looking statements:
Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; Actual results and future events could differ materially from those anticipated in such statements.
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