Bacanora Announces Admission to AIM and Completion of CAD$8.7m Equity Offering - Seite 2

Commenting on the foregoing matters, Colin Orr-Ewing, Chairman of the Board stated, "The successful listing on AIM and the completion of this brokered financing provides Bacanora with the financial resources and the capital markets' platform to accelerate the exploration and development of our two key projects. Bacanora continues to deliver on its key project milestones with the next phases of its growth, including the completion of the economic feasibility study of our high grade Borate Project, and the development of commercial production of boric acid. We continue to explore our lithium resource base at Sonora and look forward to advancing this project further."

In connection with the Company's admission to AIM, the board of directors has approved certain amendments to the Company's bylaws for the purpose of complying with AIM Rules. In particular, shareholders are advised of the following two provisions: (i) all Shareholders with interests in three percent (3%) or more of the Company's common shares are required to notify the Company of their holdings and of any subsequent relevant changes to their holdings (being each one percent (1%) increment increase or decrease while the shareholder's holdings are above the three percent (3%) threshold); and (ii) cancellation of the admission to trading of the Company's common shares on AIM shall be conditional upon the consent of not less than 75% of votes cast by its shareholders at a duly called meeting thereof. In accordance with provision (i) above, shareholders with interests in three percent (3%) or more of the Company's common shares are requested to notify the Company in order to enable it to comply with AIM Rules.

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the potential future trading of the common shares on the AIM, the use of proceeds from the offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.