BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) announces that the Company intends to extend the expiry dates of a total of 3,683,413 common share purchase warrants (the "Warrants"), which were issued as part of the private placement of the Company on June 23, 2023 and July 7, 2023, and are currently set to expire on December 23, 2024. The Company has made an application to the TSX Venture Exchange (the "TSXV") to extend the expiry date from December 23, 2024 to June 23, 2028. Holders of Warrants will not receive an amended Warrant certificate. The extension of the expiry date of the Warrants is subject to the approval of the TSXV.
A portion of the Warrants are held by insiders who are considered to be “related parties” of the Company. Therefore, the amendment of Warrants constitutes a “related party transaction” under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions. The Company intends to rely on exemptions from the formal valuation and minority approval requirements in sections 5.5(b) and 5.7(1)(b) of MI 61-101.
