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April 1st, 2010 (PR Newswire) – Scottsdale, AZ. April 1 / PR Newswire – First Call / — Big Bear Mining Corp. (OTC Bulletin Board: BGBR) is pleased to announce that it has entered into a share financing agreement for up to $1,400,000.
"We are very pleased to have closed this equity financing agreement which will allow us to fund the implementation of our operations and acquisitions strategy. We see this as significant step in infusing seed capital to help propel our strategic initiatives. We are committed to providing Big Bear with the resources necessary to provide favorable outcomes for our share holders." stated Steve Rix, President of Big Bear.
Under the terms of the agreement, Big Bear has the right to call upon funds for up to $1,400,000 as needed by issuing shares of its common stock at $0.70 per share. Big Bear has received its first tranche of $200,000 which will be used for additional property acquisitions and operating expenses. The securities to be issued under the agreement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent a registration or an applicable exemption from the registration requirements.
About Big Bear Mining Corp.:
Big Bear Mining Corp. is a US based exploration and development company, focusing on the acquisition and development of Gold and other precious commodity projects which demonstrate high probability for near term production. Big Bear is a fully reporting company quoted on the OTCBB under the symbol BGBR.
"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Big Bear (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE Big Bear Mining Corp.
Source: PR Newswire (April 1, 2010 – 6:30 AM EST)
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