Bear Creek Mining Announces Drawdown of Funds Under 2025 Sandstorm Note, and Departure of SVP Business Development
Bear Creek Mining (OTCQX: BCEKF) has drawn down US$0.6 million from its 2025 Sandstorm Note on August 1, 2025. This is part of a secured promissory note with a maximum principal of US$6.5 million, allowing monthly drawdowns up to US$600,000. To date, US$4.2 million has been drawn, leaving US$2.3 million available subject to Sandstorm's approval.
The note carries a 7% annual interest rate and matures on September 22, 2028, with interest payments from June to November 2025 deferred until December 31, 2025. The company also announced the departure of Eduardo Flores, Senior VP of Business Development.
Notably, Bear Creek faces significant financial challenges, with a working capital deficiency of US$93.2 million as of Q4 2024, raising material uncertainty about its ability to continue as a going concern.
Bear Creek Mining (OTCQX: BCEKF) ha prelevato 0,6 milioni di dollari dal suo Sandstorm Note 2025 il 1掳 agosto 2025. Si tratta di una nota di debito garantita con un capitale massimo di 6,5 milioni di dollari, che consente prelievi mensili fino a 600.000 dollari. Ad oggi, sono stati prelevati 4,2 milioni di dollari, lasciando disponibili 2,3 milioni di dollari soggetti all'approvazione di Sandstorm.
La nota prevede un tasso d'interesse annuo del 7% e scade il 22 settembre 2028, con i pagamenti degli interessi da giugno a novembre 2025 posticipati fino al 31 dicembre 2025. L'azienda ha inoltre annunciato l'uscita di Eduardo Flores, Vicepresidente Senior dello Sviluppo Commerciale.
脠 importante notare che Bear Creek affronta significative difficolt脿 finanziarie, con un deficit di capitale circolante di 93,2 milioni di dollari al quarto trimestre 2024, sollevando seri dubbi sulla sua capacit脿 di continuare l'attivit脿.
Bear Creek Mining (OTCQX: BCEKF) retir贸 0,6 millones de d贸lares de su Nota Sandstorm 2025 el 1 de agosto de 2025. Esta es una nota de pagar茅 garantizada con un principal m谩ximo de 6,5 millones de d贸lares, que permite retiros mensuales de hasta 600.000 d贸lares. Hasta la fecha, se han retirado 4,2 millones de d贸lares, quedando disponibles 2,3 millones sujetos a la aprobaci贸n de Sandstorm.
La nota tiene una tasa de inter茅s anual del 7% y vence el 22 de septiembre de 2028, con pagos de intereses de junio a noviembre de 2025 aplazados hasta el 31 de diciembre de 2025. La compa帽铆a tambi茅n anunci贸 la salida de Eduardo Flores, Vicepresidente Senior de Desarrollo Comercial.
Es importante destacar que Bear Creek enfrenta desaf铆os financieros significativos, con un d茅ficit de capital de trabajo de 93,2 millones de d贸lares al cuarto trimestre de 2024, lo que genera incertidumbre material sobre su capacidad para continuar como empresa en marcha.
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Bear Creek Mining (OTCQX : BCEKF) a tir茅 0,6 million de dollars de sa note Sandstorm 2025 le 1er ao没t 2025. Il s'agit d'une reconnaissance de dette garantie avec un principal maximal de 6,5 millions de dollars, permettant des tirages mensuels allant jusqu'脿 600 000 dollars. 脌 ce jour, 4,2 millions de dollars ont 茅t茅 tir茅s, laissant 2,3 millions de dollars disponibles sous r茅serve de l'approbation de Sandstorm.
La note porte un taux d'int茅r锚t annuel de 7% et arrive 脿 茅ch茅ance le 22 septembre 2028, les paiements d'int茅r锚ts de juin 脿 novembre 2025 茅tant diff茅r茅s jusqu'au 31 d茅cembre 2025. La soci茅t茅 a 茅galement annonc茅 le d茅part d'Eduardo Flores, vice-pr茅sident principal du d茅veloppement commercial.
Il est 脿 noter que Bear Creek fait face 脿 d'importantes difficult茅s financi猫res, avec un d茅ficit de fonds de roulement de 93,2 millions de dollars au quatri猫me trimestre 2024, ce qui soul猫ve une incertitude significative quant 脿 sa capacit茅 脿 poursuivre ses activit茅s.
Bear Creek Mining (OTCQX: BCEKF) hat am 1. August 2025 0,6 Millionen US-Dollar von seiner Sandstorm-Note 2025 abgerufen. Dies ist Teil eines besicherten Schuldscheins mit einem maximalen Kapital von 6,5 Millionen US-Dollar, der monatliche Abrufe von bis zu 600.000 US-Dollar erm枚glicht. Bis heute wurden 4,2 Millionen US-Dollar abgerufen, sodass noch 2,3 Millionen US-Dollar verf眉gbar sind, vorbehaltlich der Genehmigung durch Sandstorm.
Die Note tr盲gt einen j盲hrlichen Zinssatz von 7% und l盲uft am 22. September 2028 ab. Die Zinszahlungen von Juni bis November 2025 wurden bis zum 31. Dezember 2025 aufgeschoben. Das Unternehmen gab au脽erdem den Weggang von Eduardo Flores, Senior Vice President f眉r Gesch盲ftsentwicklung, bekannt.
Bemerkenswert ist, dass Bear Creek erhebliche finanzielle Herausforderungen hat, mit einem fehlenden Betriebskapital von 93,2 Millionen US-Dollar zum vierten Quartal 2024, was erhebliche Zweifel an der Fortf眉hrung des Unternehmens aufkommen l盲sst.
- Access to additional working capital through US$6.5 million Sandstorm Note facility
- Interest payment deferral option until December 31, 2025 provides short-term financial flexibility
- Significant working capital deficiency of US$93.2 million raises going concern issues
- Remaining US$2.3 million drawdown subject to Sandstorm's discretion
- Departure of Senior VP Business Development could impact strategic initiatives
- High interest rate of 7% per annum adds to debt burden
Vancouver, British Columbia--(Newsfile Corp. - August 5, 2025) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) ("Bear Creek" or the "Company") announces that pursuant to the secured promissory note (the "2025 Sandstorm Note") issued to a wholly owned subsidiary of Sandstorm Gold Ltd. ("Sandstorm") on May 8, 2025, funds in the amount of US
The 2025 Sandstorm Note bears an interest rate of
The Company additionally announces that its employment relationship with Mr. Eduardo Flores has been discontinued effective the date of this release. Mr. Flores held the position of Senior Vice President, Business Development since March 2025, and the Company thanks him for his service.
On behalf of the Board of Directors,
Eric Caba
President and Chief Executive Officer
For further information contact:
Barbara Henderson - VP Corporate Communications
Direct: 604-628-1111
E-mail: [email protected]
to Bear Creek Mining news releases
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements regarding: future drawdowns under the 2025 Sandstorm Note; the use of proceeds from the Draw; and the Company's payment of the interest and principal due under the 2025 Sandstorm Note. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to assumptions related to the Company's exploration, development and operating activities, the availability of funds required to meet its requirements and plans, business objectives, goals and capabilities, assumptions related to gold and silver prices, and the expectation that anticipated exploration, development and operating results will not differ materially from expectations. Although management considers the assumptions underlying the forward-looking statements to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and the risk exists that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions expressed above do not occur, but may include additional risks as described in the Company's latest Annual Information Form, and other disclosure documents filed by the Company on SEDAR+. The foregoing list of factors that may affect future results is not exhaustive. Investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.
In its annual audited consolidated financial statements for the three and twelve months ended December 31, 2024 (Q4 2024"), the Company had a working capital (current assets minus current liabilities) deficiency of US
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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