Vancouver, November 17, 2021 - Bond Resources Inc. (CSE: BJB) (FSE: 5B1) (the "Company" or "Bond") announces that it has arranged a non-brokered private placement of up to $1,000,000 (the "Financing") through the issuance of up to 16,666,667 units (the "Units") at a price of $0.06 per Unit. Each Unit will be comprised of one common share and one half common share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one common share of Bond at a price of $0.12 per share for a period of 2 years, provided that, if after the expiry of all resale restrictions, the closing price of the Company's Shares is equal to or greater than $0.25 per share for 20 consecutive trading days, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.
The Company may pay finders' fees in accordance with the policies of the Canadian Securities Exchange. Certain directors, officers and insiders of the Company may participate in this Financing.
The proceeds of the private placement will be budgeted as follows:
| ||Development drilling at Mary K Mine Project || ||$ ||125,000 || |
| ||Bulk Sampling processing || || ||500,000 || |
| ||Payment to Property Owners || || ||250,000 || |
| ||Financing costs, filing fees and commission || || ||80,000 || |
| ||Working capital || || ||45,000 || |
| ||Total || ||$ ||1,000,000 || |
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.
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.
ON BEHALF OF THE BOARD
(sgd.) "Joseph A. Carrabba"
President, Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Joseph A. Carrabba
Toll Free: 1-866-602-4935
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release may include certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: future work to be carried on the Property; use of funds; and the business and operations of Bond. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There is no assurance any of the forward-looking statements will be completed as described herein, or at all. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; operating and technical difficulties in connection with mineral exploration and development activities, lack of investor interest in financing; requirements for additional capital; future prices of gold and precious metals; changes in general economic conditions; accidents, delays or the failure to receive board, shareholder or regulatory approvals, including the required permits; results of current exploration and testing; changes in laws, regulations and policies affecting mining operations; and title disputes. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Bond Resources disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103917