Gold Bull Resources Corp. (OTC:GBRCF) Announces Series of Milestones

If a company announces a number of positive milestones, then it naturally comes into focus among investors in a big way, and hence, it would be no surprise if the Gold Bull Resources Corp. (OTC:GBRCF) gets any traction today. The company announced a series of positive developments yesterday, and in this feature, we will take a closer look.

The Announcement

In the news release yesterday, Gold Bull Resources Corp. announced that its shareholders had approved the plan of arrangement that had been agreed with Borealis Mining Company. The approval was granted at the annual general and special meeting hosted on February 28. As per the arrangement between the two companies, Borealis would complete the acquisition of all the issues and outstanding shares in Gold Bull, and the company’s shareholders would be issued 0.93 of a Borealis share for each Gold Bull stock they held.

Further Information

The company went on to note in the announcement yesterday that it was thankful to its shareholders for having supported the arrangement. The shareholders voted overwhelmingly in favor of the move as 99.52% of the votes went in favor. It would be interesting to see how the Gold Bull Resources Corp. stock moves today.

Key Quote

Cherie Leeden, President and CEO of Gold Bull, stated, “We want to thank all of our shareholders for their support received, which is reflected in their 99.52% votes in favor of approving this takeover. Our board was unanimously in favor of this transaction because we believe Borealis has the potential to develop Sandman in a less dilutive manner while in parallel providing Gold Bull shareholders with the upside of their Borealis gold mine asset, which is nearing production. There are not many other producing gold mines in this space operating in the tier-one jurisdiction of Nevada, USA.”