Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Bullet Exploration Inc. (TSXV: AMMO) ("Bullet" or the "Company") announces that it has filed its management information circular ("Circular") that was prepared in connection with the annual and special meeting of shareholders to be held on November 25, 2024 (the "Meeting"). At the Meeting, Bullet shareholders will be asked to consider and, if deemed advisable, pass a special resolution approving the previously announced proposed amalgamation between Bullet and 1492834 B.C. Ltd., a wholly-owned subsidiary of Gold79 Mines Ltd. (the "Transaction"). Further details about the Transaction, including further particulars of the business of Bullet, Gold79 Mines Ltd., and the post-Transaction combined entity are set out in the Circular, a copy of which is available under Bullet's profile on SEDAR+ at www.sedarplus.ca and will also be available at https://bulletexploration.com.
In preparing the Circular in accordance with applicable securities legislation, Bullet was required to include its condensed consolidated interim financial statements for the six months ended June 30, 2024, which had previously been filed on SEDAR+ on August 29, 2024. Bullet has amended those condensed consolidated interim financial statements to account for the following:
removal of the Notice of No Auditor Review;
insertion of the word "Unaudited" to the condensed consolidated statements of loss and comprehensive loss, changes in shareholders' equity and cash flows, and notes to the condensed consolidated interim financial statements;
disclosure of the change in cash due to foreign exchange in the condensed consolidated statement of cash flows;
inclusion of additional information relating to outstanding warrants;
correcting the amount included in accounts payable and accrued liabilities that is owed to related parties; and
updates to the subsequent event disclosures.
These amended condensed interim financial statements were refiled by Bullet on October 22, 2024, and are available under Bullet's profile on SEDAR+ at www.sedarplus.ca as well as being included in the Circular.
Bullet also announces that its previously announced application to extend the term of an aggregate of 19,200,000 outstanding common share purchase warrants (the "Warrants") due to expire on October 24, 2024 was accepted by the TSX Venture Exchange (the "Exchange"). The Warrants were issued in connection with a private placement of units that closed on October 24, 2023, and are currently exercisable at $0.15 per common share. The Exchange accepted the application to extend the expiry date for an additional two years to October 24, 2026, with all other terms of the Warrants remaining the same.
Bullet also announces that, on October 11, 2024, it received an exercise of common share purchase warrants resulting in the issuance of an aggregate of 5,810,000 common shares of the Company at a price of $0.075 per share for gross proceeds of $435,750. When aggregated with the common share purchase warrants that were exercised on October 8, 2024, Bullet issued a total of 8,000,000 common shares of the Company at a price of $0.075 per share for gross proceeds of $600,000.
About Bullet Exploration Inc.
Bullet Exploration Inc. is a TSX Venture listed company focused on high-potential gold and silver projects in the Southwest United States. The flagship Jefferson North Gold-Silver project in Nevada, near major producers like Kinross's Round Mountain, spans 1,068 hectares and 132 claims, offering significant exploration potential. Bullet also holds the Copper Canyon Property in British Columbia, targeting a copper-gold porphyry deposit. With a tight capital structure and a long-term vision for growth, Bullet is committed to advancing its projects and creating lasting shareholder value.
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Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the proposed amalgamation with Gold79 Mines Ltd. and the approval of the Exchange. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and the requisite Bullet shareholder approval. The Transaction cannot close until the required Bullet shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
The Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the ?policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this ?release.
