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MONTREAL, QUEBEC--(Marketwired - July 3, 2015) - Bowmore Exploration Ltd. (TSX VENTURE: BOW)(FRANKFURT:0B5) ("Bowmore" or the "Company") has closed the first $355,600 tranche of a non-brokered private placement (the "Placement") with Canadian investors the first tranche consisted of $230,000 by way of the issuance of 2,875,000 units (the "Units") at a price of $0.08 per Unit and $125,600 by way of issuance of 1,046,667 Flow Through Units (the "Flow through Units") at a price of $0.12 per Unit. Each Flow through Unit is comprised of one flow-through common share and one-half of one common share purchase warrant and each Unit is comprised of one common share and one half common share purchase warrant. Each whole Warrant (of the "Units") will entitle the holder to acquire one common share of the Company for a period of twenty four (24) months (until July 4, 2017) at an exercise price of $0.15 for the first twelve months and $0.20 thereafter per share. |
