TORONTO, ONTARIO--(Marketwired - Jan 4, 2017) - BE Resources Inc. (TSX VENTURE:BER) (the "Company") is pleased to announce that it intends to offer for sale, on a non-brokered private placement basis, up to 9,000,000 common shares of the Company (each, a "Share") at a price of Cdn$0.30 per Share. The net proceeds derived from the sale of the Shares will be used for working capital purposes, including potential acquisitions by the Company.
In addition to the foregoing, the Company intends to contemporaneously settle up to $863,886 of debt to non-arm's length parties for common shares of the Issuer at $0.30 per share.
The private placement and debt conversion are subject to the approval of the TSX Venture Exchange. The securities issued in connection with the private placement and debt conversion, if any, will be subject to a four-month hold period, in accordance with applicable securities laws.
The Company may pay a commission or finder's fee to eligible parties in connection with the private placement, subject to the approval of the TSX Venture Exchange and compliance with applicable securities laws.
The securities being offered pursuant to the private placement and any debt conversion have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of, or a solicitation of an offer to buy, the securities in the United States.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Contact
BE Resources Inc. Carmelo Marrelli (416) 361-0737 info@beresources.ca www.beresources.ca
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