11:03 AM EST, 03/04/2025 (MT Newswires) -- Bear Creek Mining ( BCEKF ) on Tuesday was down near 30% after it initiated a strategic review process, and also announced a brokered private placement, appointment of directors, debt amendments and a credit extension.

BCM said the board has established a special committee of independent directors to manage its strategic review process, to "explore and evaluate, on an expeditious basis, the strategic and financial options available to the company with the ultimate view of enhancing value."

In connection with this, mining executive Christian Milau has been engaged as a strategic advisor to the board and special committee to assist with oversight of the strategic review.

Separately, BCM intends to complete a private placement of shares on a bought deal basis of 64.445 million common shares, at $0.225 apiece for about $14.5 million, It has granted the underwriters an option to buy an additional 9.7 million shares pursuant to the offering for additional proceeds of about $2.2 million. The offering is expected to close on or about March 11, 2025.

Also, the company intends to enter into certain amending agreements with each of Sandstorm Gold ( SAND ) and Equinox Gold ( EQX ) to "temporarily defer the payment of interest under certain outstanding debt arrangements, subject to negotiating and entering into such amending agreements and approval and acceptance of same by the TSX Venture Exchange, Sandstorm intends to extend up to US$6.5 million in additional credit to the company for working capital purposes under the Sandstorm Promissory Note.

Shares of the company were last seen down $0.085 at $0.215 on the TSX Venture Exchange.

Price: 0.22, Change: -0.09, Percent Change: -28.33