VANCOUVER, British Columbia, Dec. 19, 2024 (GLOBE NEWSWIRE) -- 2024 has proven to be a transformational year for Gold Bull. Although the gold price remains strong, the sentiment amongst the junior resource sector has remained weak, which in turn makes access to capital dilutive.

For this reason, during the year, Gold Bull concentrated on conducting due diligence on numerous companies for potential merger or acquisition. Gold Bull focused on evaluating companies capable of generating cash flow; cash which is intended to fund the advancement of Gold Bull’s Sandman asset, located in Nevada into near term production. On the 10 th of December, we announced that Borealis Mining Company (TSXV:BOGO) (“ Borealis ”) and Gold Bull have entered into a Definitive Agreement (“ transaction ”) whereby Borealis will acquire all of the shares of Gold Bull.

A Gold Bull shareholder meeting to approve this transaction will be held in February 2025. The Gold Bull board is unanimously in favor of approving this transaction. The transaction delivers Gold Bull shareholders a significant premium with an acquisition price of approximately $0.

60 per Gold Bull share or a ratio of 0.93 Borealis Shares for each Gold Bull share, based on a 20-day Volume Weighted Average Price (VWAP). The Borealis Mine and Sandman projects are synergistic in that the Borealis ADR (adsorption recovery carbon plant) facility can be used to process loaded carbon from the Sandman project as was proposed in the Sandman .