Business
One Bullion Announces Closing of $5.3 Million Financing, Completion of Reverse Takeover and Expected Commencement of Trading on TSX Venture Exchange
VANCOUVER, British Columbia, Dec. 17, 2025 (GLOBE NEWSWIRE) -- One Bullion Limited (formerly Imperial Ginseng Products Ltd.) (TSXV: IGP) (“One Bullion” or the “
About this update from One Bullion Limited
[{"type":"text","content":"VANCOUVER, British Columbia, Dec. 17, 2025 (GLOBE NEWSWIRE) -- One Bullion Limited (formerly Imperial Ginseng Products Ltd.) (TSXV: IGP) (“One Bullion” or the “Company”) is pleased to announce that it has completed its previously announced business combination (the “Transaction”) with the private company formerly named One Bullion Limited (“OBL”); a private Ontario incorporated gold exploration company headquartered in Toronto, Ontario, with projects located in Botswana, Africa. Shares of the Company are expected to begin trading on the TSX Venture Exchange under the symbol ‘OBUL’ on December 22, 2025. With the successful closing of the Transaction and Concurrent Financing of approximately $5.3 million (as defined below), One Bullion is now positioned to accelerate exploration efforts across its highly prospective gold projects located in Botswana’s Tati and Kraaipan Greenstone Belts. The Company’s property spans approximately 8,004 km², featuring three promising gold projects across two distinct districts with significant discovery potential. “This is an exciting and transformative day for the Company,” said Adam Berk, Chief Executive Officer of One Bullion. “Closing the transaction, securing financing, and achieving conditional approval for trading on the TSX Venture Exchange underscores investor confidence in our assets and long-term strategy. With a solid balance sheet and a supportive shareholder base, we are well positioned to execute on our exploration strategy and unlock the significant potential of our Botswana projects.” The Transaction was effected pursuant to the terms of a merger agreement dated September 11, 2024, as amended (collectively, the “Merger Agreement”) between the Company, OBL and 1000975360 Ontario Inc. (“NewCo”), pursuant to which: (a) the Company consolidates its issued and outstanding common shares (each, a “Common Share”) on the basis of one (1) “new” Common Share for every 1.25 “old” Common Shares (the ”Consolidation”); (b) the Company changed its name to “One Bullion Limited”; and (c) NewCo and OBL amalgamated (the ”Amalgamation”) to form a new amalgamated entity which will continue as a wholly-owned subsidiary of the Company, in connection with which: (i) the former shareholders of OBL (collectively, the “OBL Shareholders”) received one Common Share (on a post-Consolidation ba...