Friday, April 16, 2021
TORONTO, ON., Friday, April 16, 2021– One Bullion Ltd. (“One Bullion” or the “Company”) is pleased to announce it has closed a $5,245,000 non-brokered private placement pursuant to which it issued an aggregate of 52,450,000 units (the “Units”), to fund the continued development of its flagship project situated along Kraaipan Greenstone Belt in Botswana (the “Kraaipan Gold Project”). Each Unit consists of one (1) common share of the Company (a “Common Share”) and one half (1/2) of one common share purchase warrant (each whole such share purchase warrant, a “Warrant”) with each whole Warrant being exercisable to acquire one additional Common Share at a price of $0.25 per Warrant, for a period of two years from the date of issuance.
The Company anticipates the completion the IP surveys, which were previously announced in a press release dated October 29, 2020, by the end of this month. Once this detailed target definition program has been completed, the Company plans to start drilling on the project.
The development plan covers several prospecting licenses of the Kraaipan Gold Project, including PL 006/2018, PL007/2018, PL008/2018, and PL009/2018. One Bullion’s Kraaipan Gold Project boasts a 2,542 square km area in the promising and coveted greenstone belt. The IP survey, which is still in progress, has already identified six targets which will be further explored and developed over the coming months.
The Company has recently completed a sampling program and will continue with its previous plan to conduct two additional geophysics programs over its other project located in the Vumba and Tati Greenstone belts in Northern Botswana and over its licenses covering the Molopo Farms complex in Central Botswana. Upon completion of the geophysics programs, it intends to conduct a vast geochemical program over the defined target areas.
“We are pleased at the interest and project support demonstrated by this private placement and look forward to continuing the development program on the Company’s assets in Botswana,” stated Arno Brand, CEO & COO.
One Bullion continues to focus on its go-public strategy, which was announced in the aforementioned October 29 press release, and aims to announce an initial public offering in 2021. One Bullion wishes to further update shareholders that it has appointed DNTW Toronto LLP to audit its consolidated financial statements in preparation for the going public transaction. The audit officially commenced Wednesday, April 8, 2021.
About One Bullion Inc.
One Bullion is a junior gold exploration company in Botswana, focused on three high potential projects covering a total of 5,600 km2 in Africa’s optimum mining and business jurisdiction. 1) the Kraaipan Gold Project (2,542 km2), where One Bullion has control over a Botswana parcel with an 80km strike in a highly prospective greenstone belt; 2) the Molopo Farms PGM/Ni-Cu Project (1,867 km2), where One Bullion has strategic licenses over a 60km expanse of the West margin of Bushveld-related Molopo Farms Complex, which is vastly underexplored and 3) the Northern Gold Project (1,187 km2), where One Bullion has strategic licenses covering portions of Botswana’s exposed greenstone belt terrain on the Southern Zimbabwe craton.
For further information, please contact:
Arno Brand, Chief Executive Officer
Forward-Looking Information & Statements
Certain statements in this press release constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events or One Bullion’s future performance, business prospects or opportunities. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but no always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions) are not statements of historical fact and may be forward looking information.
Forward-looking information in this press release may include, but is not limited to, statements with respect to the Company’s proposed exploration activities and proposed going public transaction, the use of proceeds from its recent private placement, the timing and amount of future exploration and expenditures and the possible results of such exploration.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, risks relating to the results of exploration activities and risks relating to the ability of the Company to complete its going public transaction as currently proposed or at all, future prices of mineral resources; accidents, labor disputes and other risks of the mineral exploration industry including continued community and government support of the Company’s projects, availability of permits, regulatory approvals and availability of capital. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct, and such forward looking information should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not intend, and does not assume any obligation, to update any forward looking information except as required by law.