December 4, 2020: Montréal, Québec – Bullion Gold Resources Corp. (TSX-V: BGH.H) (“Bullion Gold” or the “Corporation”) is pleased to announce a non-brokered private placement to raise up to $1 million through the issuance of a combination of a maximum of 5,882,352 common share units (the “Units”) and 5,000,000 flow-through shares (the “FT Shares”) of the Corporation at a price of $0.085 per HD Unit and $0.10 per FT Share (the “Private Placement”). Each Unit will comprise one common share, and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) with each Warrant entitling the holder to purchase one additional common share in the capital of the Corporation for a period of 12 months from the date of closing of the Private Placement, at a purchase price of $0.15 per common share.
The Corporation may pay finder’s fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under the Private Placement will be subject to a four month and one day “hold period” under applicable Canadian securities legislation.
The Private Placement is subject to approval of the TSX Venture Exchange.
The proceeds from the sale of the Units will be utilized by the Corporation for evaluating properties of interest, completing the due diligence on the Turgeon Lake project, including the preparation of a 43-101, working capital and general corporate purposes, and the proceeds from the sale of the FT Units will be used by the Corporation to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”).
The Corporation also announces that, further to its previous announcement on October 7, 2020, it has cancelled the non-brokered private placement financing of up to 5,000,000 units at a price of CDN$0.10 per unit. Lastly, in the Corporation’s press release, dated November 17, 2020, the aggregate number of options granted should have been 950,000.
About Bullion Gold
Bullion Gold is involved in the identification, exploration and development of viable mineral properties in the Province Quebec and British Columbia. For more information on the Corporation, refer to Bullion Gold’s documents that are filed electronically from time to time on SEDAR (www.sedar.com).
For further information, please contact:
Jonathan Hamel
President and CEO
info@bulliongold.ca
514-531-8129
Other Information
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts no responsibility for the veracity or accuracy of its content.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Corporation’s management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2019 and the third quarter ended September 30, 2020, which are available on the Corporation’s profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws