May 16, 2016 ‐ Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) (the “Company” or “Gold Bullion”) is pleased to announce that it has closed its private placement offering raising gross proceeds of $804,000. The Company issued 8,040,000 flow‐through (“FT”) units at a price of $0.10 per unit. Each FT unit is comprised of one common share and one half of one share purchase warrant with each whole warrant entitling the holder thereof to purchase one additional common share of the Company at an exercise price of $0.15 per share, for a period of two years from closing, subject to the acceptance of the TSX Venture Exchange.