Gold Bullion announces maximum $3.8 million private placement
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Gold Bullion announces maximum $3.8 million private placement
Private placement to consist of a maximum of $3.2 million in “flow-through” units and $600,000 in common share units
This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States
December 13, 2011 – Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) (“Gold Bullion”) announces that it is effecting a best-efforts private placement of “flow-through” units in a maximum amount of $3.2 million and of common share units in a maximum amount of $600,000.
Gold Bullion will issue a maximum of 17,777,777 “flow-through” units at a price of $0.18 per unit, for maximum gross proceeds of $3.2 million. Each “flow-through” unit will be comprised of one “flow-through” common share and one-half of a common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Gold Bullion at a price of $0.22 for twelve months from the date of issuance. Gold Bullion will use the proceeds from the private placement of the “flow-through” units for exploration on its Granada Property near Rouyn-Noranda, Québec.
Gold Bullion will issue a maximum of 3,750,000 common share units at a price of $0.16 per unit, for maximum gross proceeds of $600,000. Each unit will be comprised of one common share and one common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Gold Bullion at a price of $0.20 for twelve months from the date of issuance. Gold Bullion will use the proceeds from the private placement of the common share units for working capital.
In connection with the private placement, Gold Bullion will pay a cash commission to various securities dealers in an amount equal to 8% of the gross proceeds from the sale of units by such dealers. Gold Bullion will also issue compensation options to such dealers, entitling them to purchase a number of additional common shares equal to 8% of the total number of units sold through them. The compensation options may be exercised for a period of twelve months from the date of issuance at the applicable unit issue price.
The initial closing of the private placement is expected to take place on or about December 19, 2011, subject to customary closing conditions.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture-listed junior natural resource company focusing on the exploration and development of its Granada Property near Rouyn-Noranda, Québec.
For more information on Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF), visit our web site: www.GoldBullionDevelopmentCorp.com
For further information contact:
Frank J. Basa, P.Eng., President and Chief Executive Officer
Tel.: (416) 625-2342
Roger Thomas, Director
Tel.: (613) 292-2438
Progressive Investor Relations (Canada) Tel (604) 689-2881 or email info(at)progressive-ir.com
Neither the TSX Venture Exchange nor its Regulation Service 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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Leseranfragen:
Gold Bullion Development Corp.
2875 Granada Avenue
Rouyn-Noranda
Quebec
J9Y 1J1
CANADA
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Datum: 14.12.2011 - 08:20 Uhr
Sprache: Deutsch
News-ID 96742
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Town:
Wien
Kategorie:
Business News
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