Bonanza Mining Corporation Announces Private Placement and announces a new Director
Bonanza Mining Corporation
423 East 10th Street
North Vancouver, B.C.
V7L 2E5
Trading Symbol: TSX-V: BNZ
Email: [email protected] and
Telephone: 604-619-0225
Fax: 604-980-6264
Website: www.bonanzamining.com
Bonanza Mining Corporation Announces Private Placement and announces a new Director
Not for dissemination or distribution in the United States and not for distribution to United States
Newswire services
May 2, 2024 – Vancouver, British Columbia: Bonanza Mining Corporation (“Bonanza”) (TSX-V:
BNZ) announces a non-brokered private placement (the “Offering”) of up to $1,250,000. The Offering will
consist of the sale of:
(a) up to 10,000,000 non -flow-through units (the “NFT Units”) at a price of $0.05 per NFT
Unit, to raise gross proceeds of up to $500,000; and
(b) up to 10,714,285 flow -through units (the “FT Units”) at a price of $0.07 per FT Unit, to
raise gross proceeds of up to $750,000.
Each NFT Unit will consist of one common share and one common share purchase warrant (a “NFT
Warrant”), with each NFT Warrant to entitle the holder to purchase one additional common share at a price
of $0.07 per share for a period of 24 months from closing , subject to potential acceleration of the expiry
date as disclosed below. Each FT Unit will consist of one flow -through common share and one common
share purchase warrant (a “FT Warrant”), also to be issued on a non-flow-through basis. Each FT Warrant
shall entitle the holder to purchase one additional common share at a price of $0.07 for a period of 24
months from closing, provided that both the NFT Warrants and the FT Warrants will be subject to potential
earlier expiry in the event the closing market price of Bonanza ’s shares as traded on the TSX Venture
Exchange is $0.15 or greater for a period of ten consecutive trading days subsequent to four months an d
one day from closing. In that event, Bonanza will have the right to provide all warrantholders with notice
of an accelerated Warrant expiry date. In the event of the giving of such notice, each warrantholder would
have 30 calendar days from the receipt of such notice to exercise its Warrants, after which they would
expire.
The proceeds from the sale of the FT Units will be used to incur exploration expenses that qualify as
Canadian Exploration Expenses to conduct a diamond drilling program on previously defined IP and soil
geochemistry targets at Bonanza’s MC property near the town of St ewart in north-central B.C. The MC
property adjoins the east side of Ascot ’s Premier mine property which Ascot is placing into commercial
production and recently made its first gold pour. The proceeds from the sale of the NFT Units will be used
for general working capital purposes.
Finders’ fees or brokers’ commissions may be paid in accordance with TSX Venture Exchange policy. All
securities issued as part of the Offering will be subject to a hold period in Canada of four months and one
day from the closing of the Offering. The Offering and the payment of any finders ’ fees or brokers ’
commissions are subject to TSX Venture Exchange acceptance.
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Bonanza anticipates that insiders may subscribe for a portion of the Offering. The participation of insiders
in the private placement would constitute a related party transaction, within the meaning of TSX-V Policy
5.9 and Multilateral Instrument 61-101 – “Protection of Minority Security Holders in Special Transactions”
(“MI 61-101”). Bonanza intends to rely on exemptions from the formal valuation and minority shareholder
approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61 -101 on the basis that the fair
market value (as determined under MI 61 -101) of insider participation in the Offering would not exceed
25% of Bonanza’s market capitalization.
Bonanza also announces the election to its Board of Directors of Maurizio Grande at its rec ent Annual
General Meeting. Mr. Grande was the founder, and is the President and co -owner of Marble Art Canada
Ltd., a private company founded in 1979 that is involved in the supply, manufacture and installation of
stone products. He was also a director of Manera Capital Corp. from September 2013 until it completed a
Qualifying Transaction with GT Gold Corp. in November 2016 (subsequently acquired by Newmont
Corporation). He was also the Vice-President and a Director of Califfi Capital Corp. (now Bonanza Mining
Corporation) from February 2017 until March 2021, and a Director of Vincero Capital Corp. from May
2019 to March 2021 until it completed a Qualifying Transaction involving Rakovina Therapeutics Inc. He
is also the Vice-President and a Director of AD4 Capital Corp., a capital pool company listed on the TSX
Venture Exchange.
For further information, please contact:
Bonanza Mining Corporation
423 East 10th Street
North Vancouver, B.C. V7L 2E5
Attention: Alfredo De Lucrezia, President, CEO and Director
Tel: 604-619-0225
Email: [email protected]
or
Chris Graf, Vice-President, Exploration
Tel: 250-429-3572
Email: [email protected]
or
Drew Burgess, Director
Tel: 403-383-8254
Email: [email protected]
Cautionary Statements
The securities referred to in this news release have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or
for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the
U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor
a solicitation for offers to buy any securities. Any public offering of securities in the United States must be
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made by means of a prospectus containing detailed information about the company and management, as
well as financial statements.
This press release contains "forward-looking information" within the meaning of applicable securities laws.
Readers are cautioned to not place undue reliance on forward -looking information. Actual results and
developments may differ materially from those co ntemplated by these statements. The statements in this
press release are made as of the date of this press release. The Company undertakes no obligation to update
forward-looking information, except as required by securities laws.
Neither the TSX Venture E xchange 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.