Bullion Announces $1.5 Million Private Placement
Rhea-AI Summary
Bullion Gold Resources (OTC:TTEXF) announced a non-brokered private placement of up to 16,666,667 units at $0.09 per unit, for gross proceeds of up to $1.5 million. Each unit includes one share and half a warrant exercisable at $0.15 for 18 months.
Net proceeds will mainly fund a validation drilling campaign at the Terragold project, scheduled to start in late June 2026. Closing is expected around June 18, 2026, subject to TSX Venture Exchange approval and customary conditions. Certain insiders may participate under MI 61-101 exemptions.
AI-generated analysis. Not financial advice.
Positive
- Up to $1.5 million gross proceeds through equity units at $0.09
- Financing to fund Terragold validation drilling starting in late June 2026
- Each unit includes 0.5 warrant exercisable at $0.15 for 18 months, adding potential future capital
Negative
- Up to 16,666,667 new shares plus warrants may dilute existing shareholders
- Offering closing depends on TSX Venture Exchange approval and customary conditions
- Potential finder's fees and finder's warrants increase overall cost of financing
- Insider participation creates a related party transaction under MI 61-101, adding governance complexity
Montreal, Quebec--(Newsfile Corp. - June 2, 2026) - Bullion Gold Resources Corp. (TSXV: BGD) ("Bullion" or the "Company") is pleased to announce a private placement of up to 16,666,667 units of the Company (the "Units") at a price of
Each Unit will consist 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 will entitle the holder thereof to acquire one additional Common Share at a price of
The Common Shares and Warrants issuable under the Offering will be subject to a statutory hold period in Canada expiring four months and one day following the closing date of the Offering, in accordance with applicable securities laws.
The net proceeds of the Offering will be used primarily to fund the validation drilling campaign at the Terragold project, together with related geological, technical and exploration activities, which are scheduled to commence in late June 2026. The program is designed to validate historical high-grade gold intersections identified following the recent compilation of historical data and the three-dimensional geological reinterpretation of the Terragold project.
The Offering is expected to close on or about June 18, 2026, or such other date as the Company may determine, and is subject to the approval of the TSX Venture Exchange and the satisfaction of customary closing conditions.
The Company may pay finder's fees and issue finder's warrants in connection with the Offering in accordance with the policies of the TSX Venture Exchange.
Certain directors, officers and insiders of the Company may participate in the Offering. Such participation will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company expects to rely on the exemptions from the formal valuation and minority shareholder approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to insiders nor the consideration paid by insiders is expected to exceed
About the Terragold Project
The Terragold project (38 claims - 2,058 ha) is located within the prolific Abitibi Greenstone Belt, 12 km south of the municipality of Senneterre in Abitibi (Québec, Canada). The main gold showing, known since the early 1960s, has been intersected by drilling over a cumulative strike length exceeding 2 kilometres to a depth of approximately 250 meters and has seen very limited exploration activity since 1984. The gold mineralized corridor, associated with a quartz-feldspar porphyry system, remains open in all directions. Surface Proof of Concept: The validity of the system is supported by a historical 237 kg bulk sample grading 3.64 g/t Au, demonstrating mineralization outcropping at surface.
Qualified Person
The scientific and technical information disclosed in this news release has been reviewed and approved by Ms. Suzie Tremblay, a member in good standing of the Ordre des géologues du Québec (OGQ No. 10664), who is a "Qualified Person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. All geoscientific activities related to the Terragold project are carried out under the supervision of Ms. Suzie Tremblay, Vice President of Explo-Logik.
About Bullion Gold Resources Corp.
Bullion Gold Resources Corp. (TSXV: BGD) is a Québec-focused mineral exploration company advancing a portfolio of gold and polymetallic projects located in some of the province's most prospective mining districts. The Company's strategy is centered on creating shareholder value through discovery success by applying modern geological interpretation, disciplined exploration practices and strategic partnerships.
The Company holds a
A new corporate website is currently under construction and is expected to be launched in the coming weeks.
For further information, please contact:
Simon Britt
President and CEO
Bullion Gold Resources Corp.
sbritt@bulliongold.ca
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain information and statements that may constitute "forward-looking information". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "aims", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Corporation 's ability to predict or control. All statements, other than statements of historical facts, included in this news release that address future events, developments or performance that Bullion expects to occur are forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299773