Gold Bull Resources Corp. (TSX-V: GBRC) is pleased to announce that it has closed the brokered financing previously announced and upsized on November 2, 2020. Canaccord Genuity Corp. acted as agent and sole bookrunner in connection with the Offering. Tectonic Advisory Partners, Bacchus Capital Advisers, and Aitken Murry acted as financial advisors to the Company.

The Company received aggregate proceeds of $13,801,000 from the issuance of 27,602,000 units of the Company at C$0.50 per Unit. Each Unit is comprised of one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant is exercisable to acquire one Common Share at a price of C$0.75 per Warrant Share for a period of 24 months from the closing of the Offering.

The Company intends to use the net proceeds from the Offering for the acquisition of the Sandman Project, exploration, development and general corporate purposes.

In consideration for their services, the Company has paid the Agent and the Advisors a cash commission and advisory fee (collectively the “Fee”) equal to 6.0% of the gross proceeds of the Offering other than in respect of certain “president’s list” subscribers in which case the Fee was reduced to 2%. Additionally, the Company issued the Agent and the Advisors an aggregate of 1,444,120 non-transferable broker warrants. Each broker warrant entitles the holder to acquire one Common Share at a price of $0.50 per Common Share until November 19, 2022.

The securities issued under the Offering are subject to a standard hold period of four months and one day, expiring on March 20, 2021.

About Gold Bull Resources Corp.

Gold Bull Resources is a new US gold focused, exploration and development company targeting tier 1 gold assets. Gold Bull is led by Craig Parry and Cherie Leeden, proposed CEO, along with their team of experienced industry professionals with expertise in exploration, corporate finance, and mine development.

The Company’s exploration hub is located in Nevada, USA and is focused on precious metal projects located in top-tier mineral districts that contain significant historical production, existing mining infrastructure and an established mining culture.

Gold Bull is led by a Board and Management team with a track record of exploration success. Gold Bull’s objective is to generate stakeholder value and superior investment returns through the discovery and responsible development of mineral resources.