Bond Resources Resumes Trading
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2020) - BOND RESOURCES INC. (CSE: BJB) (the "Company" or "Bond") announces that the Company's common shares will resume trading on the Canadian Securities Exchange ("CSE") on May 20, 2020.
The resumption of trading follows regulatory acceptance of the Company's Share Exchange Agreement with MJ Mining Inc., a private Canadian company whose wholly-owned US subsidiary holds the contractual rights to acquire the Mary K Property in Idaho, USA (the "Property").
Bond issued 62,200,000 shares to the shareholders of MJ Mining to acquire the rights to the Property. In conjunction with the acquisition, the Company closed its non-brokered private placement (the "Financing"), raising $1,746,210 in gross proceeds through the issuance of 8,731,050 units (the "Units") at a price of $0.20 per Unit. Each Unit is comprised of one common share and one-half of one common share purchase warrant (a "Warrant"), with each whole Warrant entitling the holder to purchase one common share (a "Share") of the Company at a price of $0.40 per Share for a period of two years following the closing date, subject to an accelerated expiry if the closing price of the Shares is equal to or greater than $0.60 per Share for 20 consecutive trading days at any time following four months after the date of closing.
The Company will use the proceeds from the Financing toward making initial payments to the underlying property owners, and initiating the recommended work program on the Property and costs associated with closing the transaction.
The Company has filed a 43-101 compliant technical report on the Mark K Property. A copy of "Gold Exploration at the Mary K Prospect, Elk City District, Idaho County, Idaho, USA" dated March 12, 2020, prepared by Richard C. Capps, Ph.D. of Capps geoscience, LLC has been posted on SEDAR and the CSE website.
For complete details on the acquisition and related financial statements, please see the Company's Listing Statement as filed on SEDAR and the CSE website.
About Bond Resources: Bond Resources is a mineral resource company that holds the contractual rights to acquire the Mary K mine in the Elk City mining district of Idaho. The Company will focus on near-term production and rediscovery at the high-grade historic mine. Led by industry veterans and located in the mining friendly jurisdiction of Idaho, USA, Bond Resources combines the technical expertise of industry experts and a transparent communications model to increase shareholder value.
ON BEHALF OF THE BOARD
(sgd.) "Robert Eadie"
Robert Eadie, Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact: Robert Eadie
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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