Bluebird Merchant Ventures Secures Funding Package
Southern Gold Limited is a shareholder in Bluebird Merchant Ventures (LSE:BMV) and holds 200 Million shares in BMV.
An announcement by BMV was released to the London Stock Exchange on 13th April, 2022 on Funding to accelerate move to gold production with the highlights being
Comprehensive funding package secured to enable BMV to advance to gold production in 2022.
BMV Board of Directors demonstrate commitment through agreeing to 12 months lockin on their respective shareholdings.
Existing BMV debt refinanced on attractive terms
Search for a UK based Executive who will be responsible for promoting the Company who will be responsible for promoting BMV and engaging with shareholders as the Company progresses to production
The full announcement by BMV can be seen on this link;
To assist in achieving the Funding package Southern Gold have agreed to a 12-month standstill clause on its 150M shares and has agreed to sell 50M shares for approximately $870,0OO as a condition of the new investment package into Bluebird Merchant Ventures.
The Chairman of Southern Gold limited, Greg Boulton commented:
“This is exciting news for us as the major shareholder in BMV. The funding package and other action taken by BMV Directors brings the Kochang project to realization with on ground work commencing in the next few months.
Our focus remains on exploration for Gold in South Korea with 17 staff and contractors working on highly prospective opportunities.
We congratulate the BMV Directors to be able to reignite mining plans after a very difficult COVID environment and the lack of funding in the past.”
Authorised for release by the Board of Southern Gold Limited.