Bear Creek Mining Announces Closing of C$18 Million Private Placement

Core Viewpoint - Bear Creek Mining Corporation has successfully closed a non-brokered private placement financing, raising gross proceeds of C$18 million through the issuance of 50 million common shares to Highlander Silver Corp at a price of C$0.36 per share [1][6]. Group 1: Financing Details - The private placement raised gross proceeds of C$18 million [1]. - A total of 50,000,000 common shares were issued at an issue price of C$0.36 per share [1]. - The shares issued will be subject to a statutory hold period of four months and a day, expiring on May 9, 2026 [3]. Group 2: Use of Proceeds - The net proceeds from the private placement will be allocated for bonding, site investigation, exploration, and studies at the Corani silver project in Puno, Peru [2]. - Additionally, funds will be used for general working capital purposes at the Mercedes gold mine in Sonora, Mexico [2]. Group 3: Shareholder Changes - Following the private placement, Highlander Silver holds approximately 14.6% of the issued and outstanding Bear Creek Shares on an undiluted basis and 13.2% on a fully diluted basis [7]. - Prior to the private placement, Highlander Silver did not own any securities of Bear Creek [7]. Group 4: Acquisition Arrangement - An arrangement agreement was entered into on December 18, 2025, for Highlander Silver to acquire all issued and outstanding shares of Bear Creek [8]. - The arrangement is expected to close in the first quarter of 2026, pending necessary approvals [9]. - Upon closing, Bear Creek Shares will be delisted from the TSXV, and Bear Creek will cease to be a reporting issuer in Canada [9].