Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) (“Gold Bullion”) announces that it is effecting a best-efforts private placement of “flow-through” units in a maximum amount of $3.2 million and of common share units in a maximum amount of $600,000.
Gold Bullion will issue a maximum of 17,777,777 “flow-through” units at a price of $0.18 per unit, for maximum gross proceeds of $3.2 million. Each “flow-through” unit will be comprised of one “flow-through” common share and one-half of a common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Gold Bullion at a price of $0.22 for twelve months from the date of issuance. Gold Bullion will use the proceeds from the private placement of the “flow-through” units for exploration on its Granada Property near Rouyn-Noranda, Québec.