Gold Bullion Announces $1.0 Million Private Placement
Suite 1005, 1155 Rene Levesque Street West Montreal, Quebec H3B 2J2 Tel: 514-397-4000 / Fax: 514-397-4002
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GOLD BULLION ANNOUNCES $1.0 MILLION PRIVATE PLACEMENT
October 10, 2013 – Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) wishes to announce a non-brokered private placement to raise up to $1,000,000 through the sale of up to 14,285,714 “flow-through” units (“Units”) of the Company at $0.07 per Unit (the “Private Placement”). Each Unit will consist of one flow-through common share and one-half of a non-transferable non-flow-through share purchase warrant, each whole warrant entitling the holder to purchase one non-flow-through common share in the capital of the Company at a purchase price of $0.10 per share for a period of eighteen months after the closing date.
The Company may pay a cash commission or finder's fee to qualified non-related parties (“Finders”) in connection with the Private Placement equal to 8% of the gross subscription proceeds realized from the sale of Units and in addition issue non-transferable warrants (“Finder Warrants”) equal to 4% of the number of Units sold by the respective Finder. Each Finder’s Warrant will entitle the holder to purchase one non-flowthrough common share at a price of CDN $0.10 for a period of eighteen months following the closing date.
The Private Placement has been fully allocated and is subject to approval of the TSX Venture Exchange.
The securities will be subject to a four-month “hold period” under applicable Canadian securities legislation.
Proceeds from the Private Placement will be used by the Company to incur exploration expenditures on the Company's properties in Quebec.
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, Québec. Additional information on the company’s Granada gold property is available by visiting the website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.
“Frank J. Basa”
Frank J. Basa, P.Eng.
President and Chief Executive Officer
For further information contact:
Frank J. Basa, P.Eng., President and CEO at 1-514-397-4000
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.