12:50 PM EDT, 05/28/2025 (MT Newswires) -- BCM Resources ( BCMRF ) was higher early Wednesday afternoon after completing its previously announced non-brokered private placement financing, raising about C$2.6 million.

The financing involved the issuance of 20.6 million units priced at C$0.125 each. Each unit was made up of one share and a one-year warrant to buy an additional share at C$0.25. The proceeds from the financing will be used for general working capital purposes and to repay outstanding accounts payable.

The company said the sole subscriber of the financing is a private, mining company, which views this as a strategic long-term investment.

A statement noted that the company granted the subscriber certain rights with respect to the company, including a pre-emptive right to participate in future equity issuances to maintain their ownership level in BCM, subject to certain conditions, so long as the subscriber's ownership level in BCM, calculated on an undiluted basic basis, is not less than 3.0% of the issued and outstanding common shares of the company. The company added that the warrants issued are subject to limitations on exercise by the subscriber to prevent the warrant holder's shareholdings in BCM from exceeding 9.9% on undiluted basis.

The company stated that it plans to seek additional financing from other miners/strategic investors regarding participation/funding to advance exploration drilling at its Thompson Knolls project soon.

"We are pleased to have received this strategic investment from a successful miner which endorses BCM management's belief that the Thompson Knolls Porphyry Cu-Au-Ag-Mo discovery has the potential to become a world-class deposit," said BCM's President and Chief Executive Officer, Sergei Diakov. "The results of the in-depth scientific analysis of our drill core conducted by the Colorado School of Mines have given our team a high level of confidence in our upcoming drilling exploration."

The company's shares were last seen up $0.01, to $0.105, on the TSX Venture Exchange.

Price: 0.11, Change: +0.01, Percent Change: +10.53