Wednesday, April 25, 2012

Gold Stocks; Gold Bullion (TSX-V: GBB) Closes First Tranche of Private Placement

VANCOUVER - April 25, 2012 (Investorideas.com Mining stocks Newswire) - Gold Bullion Development Corp. (TSXV: GBB, OTC PINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce that it has closed the first tranche of a non-brokered private placement announced on April 13, 2012, by the issuance of 8,133,227 units at a price of $0.15 per unit to raise gross proceeds of $1,219,984.05. Each unit consists of one flow-through common share in the capital of the Company and one-half of a non-transferable share purchase warrant, each whole warrant entitling the holder to purchase one additional non-flow-through common share in the capital of the Company on or before April 23, 2013, at a purchase price of $0.175 per share.

In connection with certain subscriptions of the private placement, the Company paid finders' fees to Meadowbank Asset Management Inc. consisting of $87,998.72 in cash and non-transferable share purchase warrants to purchase 586,658 non-flow-through common shares in the capital of the Company, exercisable on or before April 23, 2013 at a purchase price of $0.175 per share. The cash commission was paid from unallocated working capital of Gold Bullion and not from the proceeds from the sale of the Units.
All securities issued by the Company pursuant to the private placement are subject to a hold period of four months and one day and cannot be resold until August 25, 2012.
Proceeds of the Private Placement will be used to incur expenditures on the Company's Granada Gold Mine which qualify as Canadian exploration expenses.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture-listed junior natural resource company focusing on the exploration and development of its Granada Property near Rouyn-Noranda, Qu�bec. Additional information on the company's Granada gold property is available by visiting their website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.
For further information contact:
Frank J. Basa, P.Eng.
President and Chief Executive Officer
Progressive Investor Relations (Canada) at (604) 689-2881 or via email: info@progressive-ir.com
Neither the TSX Venture Exchange nor its Regulation Service 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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Visit the GBB showcase profile at Investorideas.com
Request News and Info on GBB
Disclosure, Disclaimer/ GBB is a paid advertising client on Investorideas.com and our mining portals.
Disclosure, Disclaimer/ Investorideas.com is paid by GBB to publish news and distribute content through Investordeas.com Newswire and its syndicated partners and blogs (five hundred per month)
Post a Comment