The Prospector News

Bullfrog Gold Closes CAD$2 Million Equity Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Bullfrog Gold Closes CAD$2 Million Equity Financing

 

 

 

 

 

Bullfrog Gold Corp (OTCQB: BFGC) (CSE: BFG) (FSE: 11B) s pleased to announce the closing of a non-brokered private placement financing. The Company issued 15,384,615 units at a price of CAD$0.13 per Unit for gross proceeds of CAD$2.0 million. Each Unit is comprised of one share of the Company’s common stock and one half of a common share purchase warrant. Each Warrant entitles the holder thereof to acquire one common share at a price of CAD$0.20 for a period of two years.

 

Proceeds of the Offering will be used to advance the Bullfrog Project, including the completion of all work commitments required to purchase Barrick Bullfrog Inc’s key lands in the Bullfrog Mining District located 125 miles NW of Las Vegas, Nevada, and for general corporate purposes. The Bullfrog Project consists of 5,250 acres of patented and unpatented mining claims that have an established mineral estimate and strong exploration potential in one of the most prolific gold exploration areas in the US. More information may be sourced at www.bullfroggold.com, including a presentation that shows all major land holdings in the Bullfrog and surrounding mining districts.

 

David Beling, BFGC CEO stated, “We are very pleased to have new strong shareholders participate in the growth of the Company and welcome the continuing confidence and support from our existing shareholders. As a result, several exploration and development activities designed to add value to the Bullfrog Project will be pursued during the year, in addition to purchasing the Barrick lands currently under a Lease/Option.”

 

In connection with the closing of the Offering, the Company paid finders fees of CAD$118,918 in cash and issued 914,750 share purchase warrants to Haywood Securities Inc and Canaccord Genuity Corp. Each Finder Warrant will entitle the holder thereof to purchase one share of the Company at a price of CAD$0.20 for a period of 24 months. The offering is subject to compliance with the policies of the Canadian Securities Exchange and applicable securities requirements. The securities issued under the Offering, and any shares that may be issuable on exercise of any such securities, will be subject to statutory hold periods of four months and a day under Canadian securities laws for any purchaser. In addition, the securities were all issued pursuant to applicable exemptions from requirements to file a registration statement in the United States.

 

About Bullfrog Gold Corp.

 

Bullfrog Gold Corp. is a Delaware corporation that controls the commanding land and mineral positions in the Bullfrog Mine area where Barrick Bullfrog Inc. produced 2.3 million ounces of gold by conventional milling from 1989 into early 1999. An independent 43-101 compliant report prepared in August 2017 estimated mineralization at 624,000 ounces at 0.7 g/tonne gold within expanded pit plans based on a gold price of $1,200 and heap leaching. The Company has thoroughly analyzed a large data base obtained from Barrick, including detailed information on 155 miles of drilling in the Bullfrog Mine area and has released successful metallurgical testing and gold recovery results during the past year.

 

Posted January 21, 2020

Share this news article

MORE or "UNCATEGORIZED"


VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE

March 28, 2024

Additional Drill Results Highlighted by Hole D-380 in Block 6 at Oko West, Intersecting 39.7 m Grading 5.27 g/t Au Including 2.8 m @ 14.18 g/t Au and 13.0 m Grading 10.50 g/t Au

Reunion Gold Corporation (TSX-V: RGD) (OTCQX: RGDFF) is pleased t... READ MORE

March 28, 2024

STLLR Gold’s Tower Gold Project Infill Drilling Continues to Confirm Mineralization at the Jonpol Deposit

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) announces ... READ MORE

March 28, 2024

Hudbay Provides Annual Reserve and Resource Update and Production Outlook

Consolidated copper production is expected to average 153,000i to... READ MORE

March 28, 2024

Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow

Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased t... READ MORE

March 28, 2024

Copyright 2024 The Prospector News