Bond Resources Increases Non-Brokered Private Placement with Lead Order from Palisades Goldcorp Ltd.
Bond Resources Increases Private Placement to $2.7M
Bond Resources Inc (C:BJB)
Shares Issued 94,618,997
Last Close 3/18/2021 $0.115
Friday March 19 2021 – News Release
Mr. Joseph Carrabba reports
Bond Resources Inc. has increased its previously announced non-brokered private placement to raise gross proceeds of up to $2.7-million through the issuance of up to 22.5 million units at a price of 12 cents per unit, with a lead order from Palisades Goldcorp Ltd. Each Unit will be comprised of one common share and one common share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one common share of Bond at a price of $0.16 per share for a period of 5 years.
The Company may pay finders’ fees in accordance with the policies of the Canadian Securities Exchange. Certain directors, officers and insiders of the Company may participate in this Financing.
The proceeds of the private placement will be budgeted as follows:
Mining the bulk mineral sample at Mary K Mine Project $ 380,000 Toll processing the bulk sample300,000 Equipment purchases 700,000 Exploration drilling 250,000 Road/Camp improvements 100,000 Engineering/environmental studies 200,000 General and administration (12 months) 420,000 Financing fees and commissions 190,000 Working capital/Contingency 160,000 Total $ 2,700,000
All securities issued in connection with the Financing will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation. The private placement is not subject to a minimum aggregate amount of subscriptions.
There is no material fact or material change about the Company that has not been generally disclosed.
The Company expects to close the private placement on March 26, 2021.
About Bond Resources
Bond Resources is a mineral resource company that holds the contractual rights to acquire the Mary K mine in the Elk City mining district of Idaho. The Company will focus on near-term production and rediscovery at the high-grade historic mine. Led by industry veterans and located in the mining friendly jurisdiction of Idaho, USA, Bond Resources combines the technical expertise of industry experts and a transparent communications model to increase shareholder value.
We seek Safe Harbor.
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