Giddy up!!!
Gold Bull arranges $10-million private placement
2020-11-02 09:07 ET - News Release
Mr. Vince Sorace reports
GOLD BULL ANNOUNCES C$10,000,000 BROKERED PRIVATE PLACEMENT
Gold Bull Resources Corp. has agreed with Canaccord Genuity Corp. to act as agent, including Tectonic Advisory Partners and Bacchus Capital to act as advisers, to conduct a private placement of units of the company, on a best efforts agency basis, at a price of 50 cents per unit for gross proceeds of up to $10-million. Tectonic Advisory Partners is a New York-based, resource-focused boutique banking group. Tectonic securities transactions are executed through Ecoban Securities Corp.
Each Unit will be comprised of one common share of the Company and one half of one Common Share purchase warrant. Each Warrant shall be exercisable to acquire one Common Share at a price of C$0.75 per Warrant Share for a period of 2 years from the closing of the Private Placement.
The Agent and Advisors will have an option to offer for sale up to an additional 3,000,000 Units at the Issue Price for additional gross proceeds of up to C$1,500,000, which Agent and Advisors Option is exercisable, in whole or in part, at any time prior to the closing of the Private Placement.
The Company intends to use the net proceeds from the Private Placement for the acquisition of the Sandman project, exploration, development, and general corporate purposes.
The securities to be issued under the Private Placement will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
The Private Placement is scheduled to close on or about November 19, 2020, or such date as agreed upon between the Company and the Agent (the "Closing") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Units to be issued under the Private Placement will have a hold period of four months and one day from Closing. The Company may pay finder's fees or commissions on a portion of the Private Placement, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation.
About Gold Bull Resources Corp.
Gold Bull Resources is a new US gold focused, exploration and development company targeting tier 1 gold assets. Gold Bull is led by Craig Parry and Cherie Leeden, proposed CEO, along with their team of experienced industry professionals with expertise in exploration, corporate finance, and mine development.
The Company's exploration hub is located in Nevada, USA and is focused on precious metal projects located in top-tier mineral districts that contain significant historical production, existing mining infrastructure and an established mining culture.
Gold Bull is led by a Board and Management team with a track record of exploration success. Gold Bull's objective is to generate stakeholder value and superior investment returns through the discovery and responsible development of mineral resources.
We seek Safe Harbor.
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