Bam Bam Resources Announces Private Placement
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2020) - Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZD) (FSE: 4NPB) ("Bam Bam" or the "Company") is pleased to announce a non-brokered private placement of up to $1,500,000 (the "Placement").
The Company will issue up to 7,500,000 units at a purchase price of $0.20 per unit. Each unit will consist of common share of the Company and one transferrable share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of $0.25 for a period of 36 months from the closing date, subject to accelerated expiry.
In the event that the Company's common shares trade at a closing price at or greater than $0.50 per share for a period of 10 consecutive trading days, the Company may accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the Company.
The Company will use the proceeds from the Placement towards exploration on its Majuba Hill Property and general working capital. Finder's fees may be payable in accordance with the policies of the Canadian Securities Exchange. There will be a hold period of four months and one day on all securities issued under the Placement.
About Bam Bam Resources Corp.
Bam Bam Resources Corp. (CSE: BBR) (OTC Pink: NPEZD) (FSE: 4NPB) is engaged in the identification, review and acquisition of latter stage copper and copper/gold assets. Management has been mandated to focus on safe, mining friendly jurisdictions and government regulations supportive of mining operations.
On Behalf of the Board of Bam Bam Resources Corp.
President & CEO
310-221 West Esplanade
North Vancouver, BC
For further information, please contact:
P: (604) 318-0114
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63024