VANCOUVER, BC — September 7, 2021— Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPB) (“Bam Bam” or the “Company”) is pleased to announce it has closed an over-subscribed non-brokered private placement financing for total gross proceeds of $2,001,741 (the “Placement”).
The Company has allotted and issued 21,070,958 units (the “Units”) at a price of $0.095 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 twenty-four (24) months at a price of $0.125 per share, subject to accelerated expiry.
In the event that the Company’s common shares trade at a closing price at or greater than $0.15 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. All securities issued are subject to a four-month-and-one-day hold period expiring on January 8, 2022.
About Majuba Hill Copper
Majuba Hill Copper (CSE: BBR / OTC: NPEZF / FSE: 4NPB) is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.
On Behalf of the Board of Majuba Hill Copper
David C. Greenway
President & CEO
For further information, please contact:
VP of Corporate Communications
P: 1 (855) 475-0745
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, Majuba Hill Copper undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.