Vancouver, British Columbia – (November 2, 2020) – Gold Bull Resources Corp. (TSXV: GBRC) (the “Company”) is pleased to announce that it has agreed with Canaccord Genuity Corp. to act as agent (the “Agent”), including Tectonic Advisory Partners and Bacchus Capital to act as advisors (“Advisors”), to conduct a private placement of units of the Company (the “Units”), on a best efforts agency basis, at a price of C$0.50 per Unit (the “Issue Price”) for gross proceeds of up to C$10,000,000 (the “Private Placement”). Tectonic Advisory Partners is a New York based resource focused boutique banking group. Tectonic securities transactions are executed through Ecoban Securities Corporation.
Each Unit will be comprised of one common share of the Company (a “Common Share”) and one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall be exercisable to acquire one Common Share (a “Warrant 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 (the “Agent and Advisors 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.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
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.
President and CEO, Gold Bull Resources Corp.
For further information regarding Gold Bull Resources Corp., please visit our website at www.goldbull.ca.
Cautionary Note Regarding Forward-Looking Statements
Neither the 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.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to complete the Private Placement; to raise sufficient capital to fund its obligations under its property agreements going forward; to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.