VANCOUVER, BC — September 14, 2020— Bam Bam Resources Corp. has closed an oversubscribed non-brokered private placement financing for total gross proceeds of $1,975,000.
The Company has allotted and issued 9,875,000 units (the “Units”) at a price of $0.20 per Unit. Each Unit is comprised of one common share and one transferable warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of thirty-six (36) months at a price of $0.25 per share, 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.
In relation to the Private Placement, the Company has paid finder’s fees of $7,200 and issued 36,000 finder’s warrants to an arm’s-length party, with each finder’s warrant exercisable into a common share at a price of $0.25 per share, subject to the same accelerated expiry as above.
The Company will use the proceeds from the Private Placement towards exploring its Majuba Hill Property and general working capital. All securities issued are subject to a four-month-and-one-day hold period expiring on January 15, 2021.
About Bam Bam Resources Corp.
Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPA) 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.
We seek Safe Harbor.
On Behalf of the Board of Bam Bam Resources Corp.
David C. Greenway
President & CEO
For further information, please contact:
P: (604) 318-0114
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Bam Bam Resources Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Bam Bam Resources Corp. management on the date the statements are made. Except as required by law, Bam Bam Resources Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.