Bullion Closes $2M Private Placement

Executive Summary

• Bullion Gold Discoveries Corp. closed its non-brokered private placement, raising $2.0 million in gross proceeds from the issuance of 22,222,222 units at $0.09 per unit.
• The offering was oversubscribed, increasing from the initial $1.5 million target due to strong investor demand.
• Net proceeds will primarily fund a validation drilling campaign and related exploration activities at the company's 100%-owned Terragold Project in Quebec.

Key Details

• Gross Proceeds: $2,000,000
• Units Issued: 22,222,222 Units
• Price per Unit: $0.09
• Unit Composition: 1 common share + 1/2 common share purchase warrant per unit
• Warrant Terms: Each whole warrant is exercisable to acquire 1 common share at $0.15 per share for 18 months from the closing date
• Offering Size: Oversubscribed; increased from the originally announced maximum of $1.5 million
• Use of Proceeds: Primarily to fund validation drilling at the Terragold Project, plus related geological, technical, and exploration activities to validate historical high-grade gold intersections
• Finder's Fees: $71,431 paid in cash + 793,680 finder's warrants issued to eligible arm's-length parties (exercisable at $0.15/share for 18 months)
• Insider Participation: Directors and officers purchased 427,778 units for $38,500; classified as a related party transaction exempt from formal valuation and minority approval under MI 61-101
• Statutory Hold Period: 4 months and 1 day from the closing date
• Regulatory Status: Subject to final acceptance of the TSX Venture Exchange