Gold Bull Resources Corp. reports that it has signed its share exchange agreement with 1252265 B.C. Ltd, a private B.C. company (Numberco) and its shareholders.
As per the agreement, the Company has gained all of the outstanding shares of Numberco and has completely obtained the Big Balds Gold project situated within 10 km to the west of the Bald Mountain Mine.
In total, 10,000,000 shares have been issued by the Company to the shareholders of Numberco on a pro-rata basis to their holdings in Numberco.
Moreover, Gold Bull has filed a NI 43-101 technical report on Big Balds titled “NI 43-101 Technical Report, Big Balds Project, White Pine County, Nevada,” which was penned by Brian T. Brewer, CPG, QP, MSc, with an effective date of September 14th, 2020.
Gold Bull plans to carry out extra ground geophysics at Big Balds Project soon. The aim of the ground geophysics is to determine accurate drill hole locations.
We are very pleased to complete the acquisition of this highly prospective portfolio of properties and to have Cherie Leeden formally appointed as CEO. Having completed our oversubscribed placement of $13.8m last week we are now in excellent position to commence exploration at our Nevada gold projects and we look forward to reporting on this work in the coming weeks and months.
Craig Parry, Chairman, Gold Bull Resources Corp.
As revealed earlier to be effective on closing, Gold Bull has appointed Cherie Leeden as the President, Chief Executive Officer, and the Director of the company. Vince Sorace has resigned as President and Chief Executive Officer of the company but will continue to be a Director.
Cherie Leeden is a renowned Resources Executive with 20 years of experience, which includes 10 years at public company board level. Leeden has headed businesses in senior positions at publicly traded companies as well as designed and constructed many successful resource-focused start-ups.
Moreover, Cherie is experienced at negotiating and performing win-win business transactions with several companies varying from Fortune 500 companies to start-ups. Cherie also has experience in mergers and acquisitions, capital raising, and complicated joint venture negotiations.
Cherie possesses wide technical experience ranging from exploration to mine construction, over a range of commodities, and has also handled projects and companies in Australasia, Africa, and the Americas. Besides initiating the Big Balds Project, Cherie has also introduced Gold Bull to the Coyote and Sandman Projects.
Cherie holds a degree in Bachelor of Science in Applied Geology with Honors from the Western Australian School of Mines and is also a member of the American Exploration and Mining Association, the Australian Institute of Geoscientists, Nevada Mineral Exploration Coalition, and the Geological Society of Nevada.
Cherie resides in Nevada, where she works as a local Director of Hog Ranch Minerals Inc. for ASX listed Rex Minerals Ltd, which is handling an ongoing 1.4-million-ounce gold project in Nevada.
Stock Option Grants
Gold Bull plans to grant an aggregate of 1,950,000 stock options to officers, consultants, and directors, exercisable at $0.50 for a 5 years duration. Few of the stock options may be subject to vesting needs as determined by the Board of Directors.