Gold Bull closed C$13.8 Million financing
|Location of Sandman gold project, Nevada. Image credit: Gold Bull.|
(Kitco News) - Gold Bull Resources (TSXV: GBRC) announced that it has closed the brokered financing previously announced and upsized on November 2, 2020.
The company received aggregate proceeds of $13,801,000 from the issuance of 27,602,000 units of the company at C$0.50 per unit. Each unit is comprised of one common share of the company and one-half of one common share purchase. Each warrant is exercisable to acquire one common share at a price of C$0.75 per warrant share for a period of 24 months from the closing of the offering.
The company intends to use the net proceeds from the offering for the acquisition of the Sandman project, exploration, development and general corporate purposes.
Gold Bull Resources is a new US gold focused, exploration and development company targeting tier 1 gold assets. 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.