/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT INTENDED
FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/
VANCOUVER, BC, Nov. 2, 2020 /CNW/ - 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.
Vince Sorace
President and CEO, Gold Bull Resources Corp.
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.
SOURCE Gold Bull Resources Corp.