BULGOLD Inc. Plans Extension for Warrant Expiry Date

BULGOLD Inc. Plans to Extend Warrant Expiry Date

BULGOLD Inc. (TSXV: ZLTO), a prominent player in gold exploration, is moving forward with plans to extend the expiry date of over 3.6 million common share purchase warrants. Originally set to expire on a defined date, these warrants will have their expiry pushed back to June 23, 2028, pending the necessary approvals from the TSX Venture Exchange (TSXV).

Details on the Warrant Extension

The warrants involved were part of a private placement arrangement made by BULGOLD on select dates in June and July 2023. This significant decision reflects BULGOLD's strategic approach to facilitate greater flexibility within its capital structure. Existing holders of these warrants will not be issued amended certificates following the extension.

Insights into Related Party Transactions

With a portion of these warrants held by insiders classified as related parties, this amendment is treated as a related party transaction according to Multilateral Instrument 61-101, which aims to protect minority security holders in special business dealings. To comply with regulations, the Company will seek exemptions from certain formal valuation and minority approval requirements, highlighting its commitment to governance and transparency.

Understanding BULGOLD's Missions and Projects

BULGOLD is dedicated to the exploration and development of mineral projects, focusing on gold resources within Central and Eastern Europe. The Company proudly controls three substantial quartz-adularia epithermal gold projects that are strategically located across Bulgaria and Slovakia. They are the Lutila Gold Project, Kostilkovo Gold Project, and Kutel Gold Project. The management firmly believes in the potential of these assets, pointing to their high-grade quality and favorable metallurgical features.

Current Shareholder Distribution

As of late September, BULGOLD had 27,597,928 shares issued and outstanding. Interestingly, about 39.54% of these shares are held by the Founders, Directors, and Management. This distribution emphasizes the considerable skin-in-the-game that the leadership has in ensuring the company's success.

Commitment to Transparency

In an era where corporate governance is paramount, BULGOLD is committed to communicating openly with its stakeholders. Essential company updates and details about projects and operational strategies can be found on the BULGOLD website and SEDAR+, ensuring that investors and interested parties have access to vital corporate information.

Further Information and Contacts

For anyone seeking more clarity or details regarding these developments, BULGOLD welcomes inquiries. The contact person is Sean Hasson, the President, and CEO, who can be reached via telephone or email.

Frequently Asked Questions

What does BULGOLD Inc. do?

BULGOLD Inc. focuses on the exploration and development of gold mineral projects in Central and Eastern Europe, controlling three major projects.

Why is BULGOLD extending the expiry of warrants?

The extension is part of BULGOLD's strategic approach to give warrant holders more time while enhancing its capital management.

Who are the insiders holding the warrants?

Insiders include Founders, Directors, and Management of the Company, constituting a substantial part of the shareholding.

Where can I find more information about BULGOLD?

Additional information can be found on BULGOLD's official website and SEDAR+ for the latest updates and filings.

What regulations govern the warrant amendment?

The amendment is governed under Multilateral Instrument 61-101, which focuses on related party transactions aiming to protect minority shareholders.

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