Bald Eagle Announces Rebrand Under Hercules Silver Corp. and Provides Corporate Update
Bald Eagle Announces Rebrand Under
Hercules Silver Corp. and Provides Corporate
Update
TORONTO
,
Aug. 4, 2022
/CNW/ -
Bald Eagle Gold Corp.
("
Bald Eagle
" or the "
Company
")
(TSXV: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to release its plans for a corporate name
change to Hercules Silver Corp. to reflect the Company's sole focus on it's 100%-owned Hercules
Silver Project in
Idaho
. The Company will now operate as and market itself as Hercules Silver Corp.
The formal adoption of the new name remains subject to stock exchange and regulatory approvals.
The Company will continue to trade under the same symbols on stock exchanges (TSXV: BIG)
(OTCQB: BADEF) (FWB: 6W0).
The rebranding features a new redesigned website,
www.HerculesSilver.com
, which launches today
where a new redesigned corporate presentation can also be found. Readers are encouraged to
explore the new website which features a new look and new content with enhanced visuals.
Management Commentary
"The acquisition of the Hercules Silver Project was a significant achievement for the Company and
was the result of over 18 months of hard work and dedication by our team," said CEO and director,
Chris Paul
. "We are excited to celebrate the Company's evolution to becoming a silver explorer in
one of the best mining jurisdictions in the world. We are proud to unveil our newly re-designed
website and presentation built by TSX Marketing Inc. in connection with our rebranding and we
encourage readers to visit the website and download our new presentation."
Name Change Detailed Information
The Company's name change was approved by a special resolution at the Annual General and
Special Meeting of the shareholders held on
July 15, 2022
(for further details, please see the
Company's news release dated
July 15, 2022
) as well as by the Company's board of directors. The
name change remains subject to stock exchange and regulatory approvals. The Company will
continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF;
FWB: 6W0). Further details, including details regarding a new CUSIP number, will be included in a
subsequent news release.
Corporate Update
On
July 15, 2022
, the shareholders of the Company approved a new omnibus incentive plan (the
"
Plan
"). The Plan provides for the issuance of incentive stock options ("
Options
") and restricted
share units ("
RSUs
") to qualified directors, officers, employees and consultants of the Company.
Pursuant to the terms and conditions of the Plan, the maximum amount of the Company's common
shares ("
Common Shares
") reserved for issuance under the Plan shall be limited to 29,341,745
Common Shares less any other Common Shares reserved for issuance pursuant to other securities
based compensation arrangements.
The Company has granted an aggregate of 3,500,000 Options and an aggregate of 4,000,000
RSUs to certain directors, officers, employees and consultants of the Company. The Options and
RSUs were granted in connection with the Company's annual compensation review and pursuant to
the Company's omnibus incentive plan approved by shareholders of the Company on
July 15, 2022
.
The Options have an exercise price of
$0.09
and vest in twenty-five percent (25%) increments each
six (6) months. The Options are exercisable for a period of 5 years from the date of the grant
thereof. Two (2) million RSUs vested immediately and two (2) million RSUs will vest in twenty-five
percent (25%) increments each six (6) months.
Furthermore, the Company announced the resignation of its President and Director,
Raymond
Harari
. The Company thanks Mr. Harari for his efforts and wishes him all the best in his future
endeavours.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the
Hercules Silver Project, northwest of
Cambridge, Idaho
. The Company's management team brings
extensive and successful international experience with a focus on identifying and acquiring
prospective and under-explored precious metals properties worldwide. The board of directors have
an established track record of creating significant returns for investors and have demonstrated
access to capital to advance the development of assets.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. Any securities referred to herein have not and will not be registered
under the United States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within
the United States
or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws of an exemption from
such registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information"
with respect to the Company within the meaning of applicable securities laws. Such forward-looking
information involves known and unknown risks, uncertainties and other factors that may cause the
Company's actual results, performance or achievements, or developments in the industry to differ
materially from the anticipated results, performance or achievements expressed or implied by such
forward-looking information. Forward-looking information includes statements that are not historical
facts and are generally, but not always, identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
Although the Company believes the forward-looking information contained in this news release is
reasonable based on information available on the date hereof, by its nature, forward-looking
information involves assumptions and known and unknown risks, uncertainties and other factors
which may cause our actual results, level of activity, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks
and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse
industry events; the receipt of required regulatory approvals and the timing of such approvals; that
the Company maintains good relationships with the communities in which it operates or proposes to
operate, future legislative and regulatory developments in the mining sector; the Company's ability to
access sufficient capital from internal and external sources, and/or inability to access sufficient
capital on favorable terms; mining industry and markets in
Canada
and generally; the ability of the
Company to implement its business strategies; competition; the risk that any of the assumptions
prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks
associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the
possibility that results will not be consistent with the Company's expectations, as well as other
assumptions risks and uncertainties applicable to mineral exploration and development activities and
to the Company, including as set forth in the Company's public disclosure documents filed on the
SEDAR website at
www.sedar.com
.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS
RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND
SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD
EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT
ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the 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 press release.
SOURCE
Bald Eagle Gold Corp.
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For further information:
Chris Paul, CEO & Director, Telephone +1 (604) 449-6819, Email:
CO: Bald Eagle Gold Corp.
CNW 07:00e 04-AUG-22