Or for dissemination in the United States GOLD BULLION CLOSES PRIVATE PLACEMENT
Suite 1005, 1155 René-Lévesque Blvd. West Montreal, Quebec H3B 2J2 Tel: 514-397-4000 / Fax: 514-397-4002 This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States
GOLD BULLION CLOSES PRIVATE PLACEMENT
January 31, 2014 – Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (“Gold Bullion” or the “Company”) is pleased to announce that it has closed a non-brokered private placement financing by the issuance of 15,212,700 units (the “Units”) at a purchase price of CDN $0.05 per Unit for gross proceeds of CDN $760,635. 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 entitles the holder to purchase one non-flow-through common share in the capital of the Company on or before January 31, 2017, at a purchase price of CDN $0.10 per share.
Of the foregoing, an aggregate of 3,850,000 Units were subscribed for by three directors of the Company (namely Frank Basa, Roger Thomas and Annemette Jorgensen).
In connection with the private placement, the Company paid finders’ fees consisting of $25,000 in cash and issued 500,000 non-transferable warrants, each warrant exercisable into one common share in the capital of the Company on or before January 31, 2017 at a purchase price of CDN $0.10 per share.
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 June 1, 2014.
Gold Bullion will use the proceeds from the issuance of the flow-through units for exploration on its properties in Québec.
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.