BULGOLD Secures $1 Million Through Non-Brokered Placement
Overview of BULGOLD’s Recent Financing
BULGOLD Inc. has successfully concluded a significant non-brokered private placement. With total gross proceeds estimated at $1,076,720, this funding comes from the sale of approximately 21.5 million common shares priced at $0.05 each. This successful placement highlights the confidence investors have in BULGOLD's operational strategies, paving the way for further exploration and development.
Details of the Offering
In structuring this financing, BULGOLD has involved several independent parties who have been compensated for their services. These finders have collectively received a cash fee of $7,700 as well as 154,000 finder’s warrants. Each warrant permits the holder to purchase one additional common share at an exercise price of $0.07, valid until January 9, 2027. This carefully devised compensation reflects an understanding of the market and serves to attract potential investors.
Management Involvement and Insider Participation
Notably, key members of BULGOLD's management team have also shown their commitment to the company by investing a total of $138,567 in the offering. Due to this insider participation, BULGOLD adhered to certain regulations under Multilateral Instrument 61-101, ensuring all transactions were compliant and transparent. This step demonstrates a strong alignment of interests between management and shareholders.
Future Plans for Funds Utilization
The capital raised will be directed toward mineral exploration initiatives, reinforcing BULGOLD’s objectives in Europe’s mineral landscape. Additionally, these funds will assist with ongoing corporate activities, ensuring that BULGOLD remains active and engaged within the industry.
Understanding BULGOLD’s Operations
BULGOLD specializes in gold exploration, focusing on projects within Central and Eastern Europe. The company boasts complete ownership of three prime quartz-adularia epithermal gold projects along the Western Tethyan Belt: the Lutila, Kostilkovo, and Kutel Gold Projects. Aiming for high-grade, low-sulfidation gold mineralization, BULGOLD's assets display significant potential for future development.
Current Share Structure
As of the latest reports, BULGOLD’s total outstanding shares stand at approximately 49.1 million, with 28.3% held by founders, directors, and management. This concentration of shares reflects a strong internal belief in the company's long-term strategy and potential.
Additional Resources for Investors
Further information on BULGOLD Inc. is readily accessible on their official website and through the public platform SEDAR+. Keeping the public informed about ongoing developments is a core part of BULGOLD’s communication strategy, ensuring transparency and trust amongst its investors.
Contact Information
Investors seeking more information regarding this offering or BULGOLD’s activities can reach out to the company directly:
BULGOLD Inc.
Sean Hasson, President and CEO
Telephone: +359 887 560 545
Email: sean.hasson@BULGOLD.com
Website: www.BULGOLD.com
Frequently Asked Questions
What is the nature of the recent offering by BULGOLD?
BULGOLD completed a non-brokered private placement, raising around $1.08 million through the sale of common shares.
How will the funds raised be used?
The proceeds will support exploration activities and general corporate purposes for BULGOLD.
Are there any insider transactions in this offering?
Yes, management has personally invested $138,567 in the offering, which is a common practice to align interests.
What type of projects does BULGOLD focus on?
BULGOLD is focused on the exploration and development of gold projects, particularly in Central and Eastern Europe.
Where can I find more information about BULGOLD Inc.?
More information is available on BULGOLD's official website and SEDAR+ platform for updates and filings.
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