Bear Creek Mining Closes Private Placement, Strengthening Capital for Mercedes Development

Bear Creek Mining Corporation announced on March 11, 2025, the successful closing of its bought-deal private placement, raising C$14,500,125 through the issuance of 64,445,000 common shares at C$0.225 per share.

The offering, underwritten by BMO Capital Markets and Canaccord Genuity Corp., involved a cash commission of $522,004.50 on a portion of the shares issued. Notably, related parties Sandstorm Gold Ltd. and Equinox Gold Corp. participated in the offering—each acquiring a substantial number of shares on both a gross and net basis, following a concurrent sale that was a condition precedent to the offering’s closure. As a result, both companies saw changes in their ownership stakes, with Sandstorm and Equinox holding approximately 19.98% and 13.10% of the total issued shares, respectively.

The shares sold are subject to resale restrictions, including a mandatory hold period.

The net proceeds will primarily fund exploration and resource drilling, as well as safety enhancements at the Mercedes mine in Mexico, along with general working capital improvements aimed at reducing trade payables.

Additionally, the company disclosed that certain debt amendment agreements with Sandstorm and Equinox—intended to defer interest payments on outstanding debt and extend additional credit—remain pending TSX Venture Exchange approval.

The securities issued are not registered under the United States Securities Act, thereby restricting their offer or sale within the United States.