Bullion hires ITG as market-maker, arranges financing

Executive Summary

• Bullion Gold Resources Corp. announced a non-brokered private placement of units priced at $0.07 per unit, targeting minimum gross proceeds of $200,000.
• The company engaged Independent Trading Group (ITG) Inc. as a market maker to improve liquidity across the TSX Venture Exchange, CSE, and Cboe Canada.
• Proceeds from the private placement are intended for working capital, promotional activities, and investor relations.

Key Details

• Private Placement Structure:
  • Instrument: Units consisting of one common share and one common share purchase warrant.
  • Price: $0.07 per unit.
  • Gross Proceeds: Minimum of $200,000.
  • Warrant Terms: Each warrant allows the holder to acquire one common share at an exercise price of $0.12 per share.
  • Warrant Duration: 12 months from the date of issuance.
  • Hold Period: All securities are subject to a hold period of four months and one day from issuance.
  • Use of Proceeds: Working capital, promotional activities, and investor relations.
  • Regulatory Status: Subject to final approval by the TSX Venture Exchange.
• Market Maker Agreement:
  • Provider: Independent Trading Group (ITG) Inc.
  • Compensation: $5,000 per month, payable monthly in advance.
  • Term: Initial term of one month, renewable for additional one-month terms.
  • Termination: Either party may terminate with 30 days' notice.
  • Performance: No performance factors contained in the agreement; ITG receives no shares or options as compensation.
  • Affiliation: ITG and the company are unrelated and unaffiliated entities.

Notable Quotes

• No direct quotes from management were included in the provided text.