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Bulgold Announces Non-Brokered Private Placement for Gross Proceeds of Up to $3.5 Million
TORONTO, May 11, 2023 (GLOBE NEWSWIRE) -- BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) is pleased to announce a non-brokered private placement (the "O
About this update from Bulgold Inc
[{"type":"text","content":" TORONTO, May 11, 2023 (GLOBE NEWSWIRE) -- BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) is pleased to announce a non-brokered private placement (the \"Offering\") for gross proceeds of up to $3,500,000 from the sale of units of the Company (each, a \"Unit\") at a price of $0.30 per Unit (the \"Issue Price\"). Each Unit will consist of one common share of the Company (each a “Unit Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a “Warrant Share”) at a price of $0.40 at any time on or before that date which is 18 months after the closing date of the Offering. The Company has agreed to pay a finder’s fee to arm’s length parties for services rendered in respect of the Offering. The finder’s fee will consist of a cash fee equal to 7.0% of the gross proceeds from the sale of Units sold to third parties sourced by the finders, and finder’s warrants equal in number to 7.0% of the Units sold to third parties sourced by the finders (the “Finder’s Warrant”). Each Finder’s Warrant will entitle the holder to acquire one additional common share of the Company at an exercise price of $0.40 until the date which is 18 months from the closing date of the Offering. The Company intends to use the proceeds raised from the Offering for exploration as well as for general corporate purposes. The Offering is scheduled to close on or about June 14, 2023 and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Unit Shares and Warrant Shares will have a hold period ending on the day that is four months and one day following the closing date. The securities described herein have not been, and will not be, registered under the United States 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 BULGOLD Inc. BULGOLD is a gold exploration company focused on...