Bam Bam Resources (CSE:BBR) Corp said it has amended the amount closed on its oversubscribed non-brokered private placement financing to C$2,232,841.05 from C$2,001,741 previously.
The company has issued 23,503,590 of its units, at a price of $0.095 per unit, in connection with the financing. Each unit comprised one common share and one transferable warrant, which entitles the holder to purchase one additional common share for a period of 24 months at a price of $0.125 per share, subject to accelerated expiry.
In the event that the company's common shares trade at a closing price at or greater than $0.15 per share for a period of 10 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof, and, in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.
READ: Bam Bam Resources welcomes latest 'exciting' exploration finds at Majuba Hill
Bam Bam Resources said it will use the proceeds from the placement toward exploration on its Majuba Hill property and for general working capital.
In connection with the placement, the company has paid $11,542.50 as finder's fee to an arm's-length party.
All securities issued are subject to a four-month-and-one-day hold period expiring on January 8, 2022.
Bam Bam Resources is focused on advancing latter-stage copper and copper/silver/gold assets amid the green energy revolution.
The Majuba Hill copper, silver and gold district, which lies 156 miles outside Reno, Nevada and is road accessible, is its flagship asset. Notably, the project already boasts mining infrastructure.
Between 1907 and 1960, Majuba Hill produced 2.8 million pounds of copper, 184,000 ounces of silver, over 885,000 pounds of lead and 5,800 ounces of lode gold.
Contact Sean at sean@proactiveinvestors.com