One Bullion Ltd. is pleased to announce it has closed a $5,245,000 non-brokered private placement pursuant to which it issued an aggregate of 52,450,000 units, to fund the continued development of its flagship project situated along Kraaipan Greenstone Belt in Botswana. Each Unit consists of one common share of the Company and one half of one common share purchase warrant with each whole Warrant being exercisable to acquire one additional Common Share at a price of $0.25 per Warrant, for a period of two years from the date of issuance.
The Company anticipates the completion of the IP surveys, which were previously announced in a press release dated October 29, 2020, by the end of this month. Once this detailed target definition program has been completed, the Company plans to start drilling on the project.
The development plan covers several prospecting licenses of the Kraaipan Gold Project, including PL 006/2018, PL007/2018, PL008/2018, and PL009/2018. One Bullion’s Kraaipan Gold Project boasts a 2,542 square km area in the promising and coveted greenstone belt. The IP survey, which is still in progress, has already identified six targets which will be further explored and developed over the coming months.
The Company has recently completed a sampling program and will continue with its previous plan to conduct two additional geophysics programs over its other project located in the Vumba and Tati Greenstone belts in Northern Botswana and over its licenses covering the Molopo Farms complex in Central Botswana. Upon completion of the geophysics programs, it intends to conduct a vast geochemical program over the defined target areas.
“We are pleased at the interest and project support demonstrated by this private placement and look forward to continuing the development program on the Company’s assets in Botswana,” stated Arno Brand, CEO & COO.
One Bullion continues to focus on its go-public strategy, which was announced in the aforementioned October 29 press release, and aims to announce an initial public offering in 2021. One Bullion wishes to further update shareholders that it has appointed DNTW Toronto LLP to audit its consolidated financial statements in preparation for the going public transaction. The audit officially commenced Thursday, April 8, 2021.
About One Bullion Inc.
One Bullion is a junior gold exploration company in Botswana, focused on three high potential projects covering a total of 5,600 km2 in Africa’s optimum mining and business jurisdiction. 1) the Kraaipan Gold Project (2,542 km2), where One Bullion has control over a Botswana parcel with an 80km strike in a highly prospective greenstone belt; 2) the Molopo Farms PGM/Ni-Cu Project (1,867 km2), where One Bullion has strategic licenses over a 60km expanse of the West margin of Bushveld-related Molopo Farms Complex, which is vastly underexplored and 3) the Northern Gold Project (1,187 km2), where One Bullion has strategic licenses covering portions of Botswana’s exposed greenstone belt terrain on the Southern Zimbabwe craton.
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