Bullion Closes $2M Private Placement
Rhea-AI Summary
Bullion Gold Discoveries (TSXV: BGD, symbol TTEXF) closed an oversubscribed, non-brokered private placement of $2,000,000, issuing 22,222,222 units at $0.09 each. Each unit includes one share and half a warrant exercisable at $0.15 for 18 months.
Net proceeds will fund validation drilling and related work at the 100%-owned Terragold Project in Quebec. Insiders bought 427,778 units for $38,500. Finders received $71,431 in cash and 793,680 finders’ warrants. Securities carry a four‑month‑plus‑one‑day hold and the financing needs final TSXV acceptance.
AI-generated analysis. Not financial advice.
Positive
- Oversubscribed private placement increased to $2,000,000 from $1.5 million
- Issued 22,222,222 units at $0.09, adding exploration capital
- Proceeds allocated to Terragold Project validation drilling and related activities
- Insider participation of 427,778 units for $38,500
- Warrants and finders’ warrants exercisable at a higher $0.15 strike price
Negative
- Equity financing dilutes existing shareholders via 22,222,222 new shares plus warrants
- Cash finder’s fees of $71,431 reduce net proceeds
- Additional 793,680 finders’ warrants add to potential future dilution
- All securities subject to over four‑month hold period, limiting near‑term liquidity
- Financing remains subject to final acceptance by the TSX Venture Exchange
Montreal, Quebec--(Newsfile Corp. - June 17, 2026) - Bullion Gold Discoveries Corp. (TSXV: BGD) ("Bullion" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering"), raising gross proceeds of
Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of
The Offering was oversubscribed and increased from the originally announced maximum size of
Net proceeds from the Offering will be used primarily to fund the validation drilling campaign at the Company's
In connection with the Offering, the Company paid cash finder's fees of
Certain directors and officers of the Company (the "Insiders") purchased, directly and indirectly, 427,778 Units for aggregate consideration of
All securities issued pursuant to the Offering are subject to a statutory hold period expiring four months and one day from the closing date, in accordance with applicable securities legislation.
The Offering remains subject to final acceptance of the TSX Venture Exchange.
About Bullion Gold Discoveries Corp.
Bullion Gold Discoveries 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 shortly.
For further information, please contact:
Simon Britt
President and CEO
Bullion Gold Discoveries 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 Company'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.
Neither 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301807