(Investorideas.com Mining Stocks Newswirehitting other sites also :
https://www.investorideas.com/CO/GBB/news/4081.asp
Gold Bullion Development Corp. (TSX-V: GBB) -PRIVATE PLACEMENT CLOSES INVESTOR RELATIONS CONSULTANTS RETAINED STOCKOPTONS GRANTED
April 8, 2010 (Investorideas.com Mining Stocks Newswire) - GoldBullion Development Corp. (the "Company" or "Gold Bullion", TSX.V: GBB) ispleased to announce that it has closed the non-brokered privateplacement announced on March 16, 2010, as amended March 26, 2010, by theissuance of 18,700,000 units at a price of
.215 per unit to raisegross proceeds of $4,020,500. Each unit consists of one common share inthe capital of the Company and one-half of a transferable share purchasewarrant, each whole warrant entitling the holder to purchase oneadditional common share in the capital of the Company for a period oftwo years from the date of issuance, at a purchase price of
.30 pershare.
In connection with certain subscriptions of the private placement,the Company paid cash finders' fees to arm's length parties in anaggregate amount of $359,319.43, representing 10% of the gross proceedsraised through them in the private placement. In addition, the Companyissued an aggregate of 1,056,356 non-transferable broker warrants toAllyson Taylor Partners, RWS Capital Services, Jordan Capital MarketsInc., and MacDougall, MacDougall & Mactier Inc. Each broker warrantentitles the holder to purchase one common share of the Company for aperiod of two years from the date of issuance, at a purchase price of
.30 per share.
All securities issued by the Company pursuant to the privateplacement are subject to a hold period of four months and one day andcannot be resold until August 7, 2010.
Proceeds of the private placement will be used for the developmentof the Company's Granada Gold Mine.
Investor Relations
The Company announces that it has entered into an agreement (the?IR Agreement?) with San Diego Torrey Hills Capital, Inc. ("Torrey HillsCapital") of Del Mar, California, to provide investor relationsservices.
Torrey Hills Capital is a leading investor and financial publicrelations firm specializing in small and microcap companies, most ofwhich are in the natural resources sector. It will be Gold Bullion'sgoal to build and maintain an informed investor audience by increasingawareness about the company through Torrey Hills Capital's establishedrelationships with investment professionals, investment advisors, moneymanagers, and market makers focused on the microcap market space. TorreyHills Capital will also develop a profile on Gold Bullion for coverageon its website, www.babybulls.com, a website developed to showcase andprovide exposure for emerging micro-cap companies to an audience ofproven micro-cap investors.
The IR Agreement is for an initial period of six months, with anoption to renew for a further term at the mutual agreement of bothparties.
Torrey Hills Capital will receive a monthly retainer of US$5,000during the term of the agreement, for an aggregate consideration ofUS$30,000. The Company has also granted an option to purchase up to200,000 common shares to Torrey Hills Capital, exercisable for a periodof three years at an exercise price of
.20 per share. The options aregranted pursuant to the Company's Stock Option Plan and will vest inaccordance with the provisions therein and the policies of the TSXVenture Exchange, which require that options granted to a consultantproviding investor relations services must vest in stages over 12 monthswith no more than one-quarter of the options vesting in any three monthperiod.
The IR Agreement is subject to review and approval by the TSXVenture Exchange.
Stock Options
The Company also announces that it has granted stock options toconsultants and employees to purchase up to an aggregate of 350,000common shares of the Company, exercisable at a price of
.20 per sharefor five years, subject to regulatory approval. The options are grantedin accordance with the Company's Stock Option Plan and will vest inaccordance with the provisions therein and the policies of the TSXVenture Exchange.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture listed juniornatural resource company focusing on the exploration and development ofmineral properties, all of which are located in Canada. The Company iscurrently focused on the advancement of its Granada Gold Mine Propertyin Rouyn-Noranda, Quebec and Castle Silver Mine Property in Gowganda,Ontario.
Frank J. Basa
President and Chief Executive Officer
For further information contact:
Frank J Basa P.Eng., President & CEO, 1-416-625-2342
Roger Thomas, Director, 1-613-292-2438
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease. This news release may contain forward-looking statementsincluding but not limited to comments regarding the timing and contentof upcoming work programs, geological interpretations, receipt ofproperty titles, potential mineral recovery processes, etc.Forward-looking statements address future events and conditions andtherefore, involve inherent risks and uncertainties. Actual results maydiffer materially from those currently anticipated in such statements.
Disclosure: GBB is a paid advertising client on Investorideas.comand our mining portals.
Visit the GBB showcase profile atInvestorideas.com
RequestNews and Info on GBB
Published at Investorideas.com and www.Gold-MiningStocks.comand www.MiningSectorStocks.com,portals within the InvestorIdeas.com® content umbrella, featureindustry and stock news, exclusive articles and financial columnists,audio interviews and podcasts, investor conferences, blogs, and adirectory of stocks in the sector. Industry participants are invited tosubmit news, articles and research.
MiningStocks Directory: Research mining stocks and gold stocks:
DirectoryFeatures Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks,Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX,NYSE, ASX, AIM and other leading Stock Exchanges -Publiccompanies please contact us with updates, corrections and additions.
Mining Stocks - Reach investors following mining stocks atInvestorideas.com:
Submit Mining and GoldStock News
MiningStocks Investor Awareness Programs
Investors: Sign up forfree newsletter, stock and sector news alerts at Investorideas.com.Or publish your own stock picks and share your investing and tradingideas with other investors. Publishyour investor ideas today!
www.InvestorIdeas.com -Big Ideas for the Small Cap Investor
Disclaimer: The viewsand opinions expressed in the research published are those of theindividual companies and writers and not necessarily those ofInvestorideas.com®, or any of the industry sector portals . At the timeof publication, writers may hold positions in the stocks or companiesmentioned.
Investorideas.com® orany of the industry sector portals cannot assure accuracy of theresearch presented. Investors are encouraged to research and verifyfacts and under no circumstances is Investorideas.com® endorsing thecontent as a recommendation to buy or sell stock.