VANCOUVER—January 24, 2020— Bam Bam Resources Corp. (CSE: BBR / OTC: NPEZF / FSE: 4NPA) (“Bam Bam” or the “Company”) announces that it has amended the terms of the private placement announced on January 17, 2020. The Company has increased the amount to be raised to up to $1,200,000 (the “Placement”).
The Company will issue up to 24,000,000 units at a purchase price of $0.05 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 $0.08 for a period of 18 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 $0.20 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 (hereafter referred to as the forced conversion feature) on which such notice is given by the Company.
The Company will use the proceeds from the Placement towards 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: 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. On Behalf of the Board of Bam Bam Resources Corp.
On Behalf of the Board of Bam Bam Resources Corp.
“David Greenway” President & CEO
310-221 West Esplanade North Vancouver, BC V7M 3J3
For further information, please contact:
P: (604) 318-0114