VANCOUVER, BC — December 24, 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 $3,262,099.75 (the “Placement”).
The Company has allotted and issued 50,186,150 units (the “Units”) at a price of $0.065 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 $0.09 per share, subject to accelerated expiry.
In the event that the Company’s common shares trade at a closing price at or greater than $0.125 per share for a period of five (5) 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 Placement, the Company has paid finder’s fees of $15,892.50 to an arm’s-length party,
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 April 25, 2022.
About Bam Bam Resources Corp.
Bam Bam Resources Corp. (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 Bam Bam Resources Corp.
David C. Greenway
President & CEO
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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.