BLACKBULL RESOURCES INC. : http://www.blackbullresources.com/ : QwikReport

News Releases

#Tue Aug 27, 2019
Black Bull Resources Inc. Announces June 30, 2019 Interim Financial Statement Release

 Shelburne, NS --- August 27, 2019 Black Bull Resources Inc. (TSXV:BBS.H) has released its Interim Report including the Financial Statements and Management's Discussion & Analysis for the third fiscal quarter ended June 30, 2019

The Company recorded a net and comprehensive loss for the three-month period of $26,141 versus $26,874 for June 30, 2018, or ($0.00) per share versus ($0.01). Allowing for non-cash operating expense of $1,248 compared to $1,199 for June 30, 2018 the Company's operational cash flow loss was $24,893 versus a loss of $25,66 for June 30, 2018.

On a year to date basis The Company recorded a net and comprehensive loss for the year to date of $181,045 versus $88,772 to June 30, 2018, or ($0.02) per share versus ($0.02). Allowing for non-cash operating expense of $3,744 compared to $3,744 to June 30, 2018 the Company's operational cash flow loss was $177,301 versus a loss of $85,028 to June 30, 2018.

"The focus is complete the announced Proposed Change of Business," says Chris Every President and CEO, "While the Company's future is uncertain we continue to reduce cash burn".

A complete set of Black Bull's Financial Statements, Notes to the Consolidated Financial Statements and Management's Discussion and Analysis for the period ended June 30, 2019 have been filed on SEDAR at www.sedar.com.

About Black Bull Resources Inc.

Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. Prior to suspension of operations, the mine produced a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.
 

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:

Martin MacKinnon CFO
Black Bull Resources Inc.
Tel: 902-499-7183

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
 
#Wed May 29, 2019
Black Bull Resources Inc. Announces March 31, 2019 -- Interim Financial Statement Release

 Shelburne, NS --- May 29, 2019 --- Black Bull Resources Inc. (NEX:BBS.H) has released its Interim Report including the Financial Statements and Management's Discussion & Analysis for the first fiscal quarter ended March 31, 2019.

The Company recorded a net and comprehensive loss for the three-month period of $ 133,252 versus $40,987 for March 31, 2018, or ($0.01) per share versus ($0.01). The increased cost related to the previously announced transaction. Allowing for non-cash operating expense of $1,248 compared to $1248 for March 31, 2018, the Company's operational cash flow loss was $132,004 versus $39,739 for March 31 2017.

Year to date, the Company recorded a net and comprehensive loss of $154,904 versus $61,899 for the six-month period ended March 31, 2018, or ($0.02) per share vs. ($0.02). Allowing for non-cash operating expense of $2,496 compared to $2,497 for March 31, 2018, the Company's operational cash flow loss was $152,408 vs. $59,402 for March 31, 2018.

"The focus is to complete the transaction, with Magnetic North Acquisition Corporation." says Chris Every President and CEO,

About Black Bull Resources Inc.
Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. The mine produces a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:
Martin MacKinnon CFO
Black Bull Resources Inc.
Tel: 902-499-7183
Fax: 902-492-0700

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
 
#Wed Apr 10, 2019
BLACK BULL RESOURCES INC. ANNOUNCES COMPLETION OF SECOND CLOSING OF PRIVATE PLACEMENT AND EXPECTED COMPLETION OF THE TRANSACTION ON OR BEFORE APRIL 30, 2019

 Shelburne, NS -- April 10, 2019 -- Black Bull Resources Inc. (NEX: BBS.H) ("Black Bull" or the "Company") is pleased to announce that the Company has raised $1,304,990 in its private placement financing (the "Offering") through the sale of 130,499 Series A Preferred Shares (the "Preferred Shares"). The financing is in addition to the Company's previously announced closing on March 18, 2019, bringing the total funds raised under the Offering to approximately $2.6 million. Black Bull expects to close on the remaining funds under the Offering on or before April 30, 2019, thereby fulfilling one of the conditions of its arm's length business transaction (the "Transaction") with a group of investment and business professionals (collectively, the "Vendors"). For further details on the Transaction, please see the Company's press releases of March 18, 2019, May 25, 2018 and September 26, 2017.

As a condition of closing (the "Closing") of the Transaction, the Company and the Vendors are required to jointly complete the Offering for gross proceeds of not less than $3.0 million. Under the Offering, the Company has contemplated issuing up to 12,000,000 common shares in the capital of Black Bull at a price of $0.10 per common share, and a minimum of 180,000 Preferred Shares at a price of $10.00 per Preferred Share. The proceeds of the Offering will be used for investment and general corporate and working capital purposes.

Completion of the Closing is subject to a number of conditions, including but not limited to: requisite regulatory, corporate, and third-party approvals, including final TSXV approval. Upon Closing, the Company intends to change its name to Magnetic North Acquisition Corp., or such other name as the management team may determine. It is anticipated that the TSXV would assign a new trading symbol at the time of the name change. Upon Closing, the Company intends to be listed on the TSXV as a Tier 2 Investment Issuer.

For Further information, please contact:

Black Bull Resources Inc. Magnetic North Acquisition Corp.
Martin MacKinnon, CFO Andrew Osis, Co-CEO
Tel: 902-499-7183 Tel: 403-470-4355

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position.

The forward-looking information in this news release includes disclosure about the terms of the proposed Transaction, its anticipated closing date, the proposed structure of the Transaction, the terms of the concurrent financing and the business and operations of the Company after the completion of the Transaction.

The Company has made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the terms of the proposed financing; the ability of the Company to execute and achieve its business objectives after the closing of the Transaction; and the consummation of transactions in order to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; the inability of the Company or the Vendors to complete the Transaction on the terms disclosed in this news release, or at all; the inability of the Company to obtain TSXV acceptance and the approval of its shareholders; the unavailability of exemptions from prospectus requirements for the issuance of shares under the financing; refusal of the proposed directors or officers to act for any reason, including conflicts of interest; reliance on key and qualified personnel; regulatory and other risks associated with the industries in which the Company's portfolio companies operate, in general; and the failure to complete the transactions contemplated by order agreement. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
 
#Mon Mar 18, 2019
BLACK BULL RESOURCES INC. ANNOUNCES RECEIPT OF CONDITIONAL APPROVAL FROM TSX VENTURE EXCHANGE FOR CHANGE OF BUSINESS TRANSACTION AND COMPLETES INITIAL CLOSINGS OF PRIVATE PLACEMENT

 Shelburne, NS -- March 18, 2019 -- Black Bull Resources Inc. (NEX: BBS.H) ("Black Bull" or the "Company") is pleased to announce that the Company has received conditional approval from the TSX Venture Exchange Inc. (the "Exchange" or "TSXV") regarding the previously announced arm's length Change of Business transaction, as defined in Policy 5.2 of the TSXV, (the "Transaction") with a group of investment and business professionals (collectively, the "Vendors"). The Transaction, which is subject to regulatory and final closing conditions, will see Black Bull transition from a Resource Issuer to an Investment Issuer within the meaning of such terms as defined in the policies of the TSXV. The conditional approval has a variety of conditions, all of which have been or will be satisfied in the coming days. For further details on the Transaction, please see the Company's press releases of May 25, 2018 and September 26, 2017.

As a condition of completion of the Transaction (the "Closing"), the Company and Vendors are required to jointly complete a private placement financing (the "Offering") of not less than $3.0 million. Under the Offering, the Company is contemplating issuing up to 12,000,000 common shares in the capital of Black Bull at a price of $0.10 per common share, and a minimum of 180,000 series A preferred shares (the "Preferred Shares") at a price of $10.00 per Preferred Share. The minimum gross proceeds of the Offering of $3.0 million will be used for investment and general corporate and working capital purposes. To date the Company has closed on approximately $1.3 million of the Offering, and has commitments of a further $1.7 million. Final closing on the financing is expected to occur on or before April 10th, 2019.

The Transaction satisfies the requirements of Section 4.1 of TSXV Policy 5.2, as the Transaction is an arm's length transaction involving an issuer listed on the NEX ("NEX" is a separate trading board of TSX Venture Exchange). The Company has received a waiver from the sponsorship requirements pursuant to Section 3.4(a)(ii) of Policy 2.2 of the Exchange.

Investee Companies Development

Post-Closing, Black Bull will be an Investment Issuer, which would manage a portfolio of corporate assets (the "Portfolio"), which are included in the Transaction (see the Company's press release dated May 25, 2018). The Company continues to accelerate its involvement in the Portfolio in order to drive an incremental increase in value after completion of the Transaction. The proposed new management team (as outlined in the Company's September 26, 2017 press release) has worked to significantly advance the value of the Portfolio, and there is significant additional growth planned for the Portfolio that management is hopeful will have dramatic revenue, cash flow and earnings growth throughout the second half of 2019.

Black Bull has used a portion of the Offering proceeds to make initial investments into each of Previcare and Foamtech to preserve the terms of the investment and to inject capital in each of those companies to capture key opportunities.

Closing

Completion of the Transaction (the "Closing") is subject to a number of conditions, including but not limited to: requisite regulatory, corporate, and third-party approvals, including final Exchange approval.

Post-Closing

Upon Closing, the Company intends to change its name to Magnetic North Acquisition Corp., or such other name as the management team may determine. It is anticipated that the Exchange would assign a new trading symbol at the time of the name change. Upon Closing, the Company intends to be listed on the TSXV as a Tier 2 Investment Issuer.

For Further information, please contact:

Black Bull Resources Inc. Magnetic North Acquisition Corp.
Martin MacKinnon, CFO Andrew Osis, Co-CEO
Tel: 902-499-7183 Tel: 403-470-4355

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position.

The forward-looking information in this news release includes disclosure about the terms of the proposed Transaction, its anticipated closing date, the proposed structure of the Transaction, the terms of the concurrent financing and the business and operations of the Company after the completion of the Transaction, the operational and financial results of the portfolio companies, and the value of the Portfolio.

The Company has made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; the terms of the proposed financing; the ability of the Company to execute and achieve its business objectives after the closing of the Transaction; the historical financial performance of the Portfolio companies; management's expectations of future performance of the Portfolio companies, and the consummation of transactions in order agreements to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; the inability of the Company or the Vendors to complete the Transaction on the terms disclosed in this news release, or at all; the inability of the Company to obtain TSXV acceptance and the approval of its shareholders; the unavailability of exemptions from prospectus requirements for the issuance of shares under the financing; refusal of the proposed directors or officers to act for any reason, including conflicts of interest; reliance on key and qualified personnel; regulatory and other risks associated with the industries in which the Company's portfolio companies operate, in general; and the failure to complete the transactions contemplated by order agreement. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.
 
#Wed Feb 27, 2019
Black Bull Resources Inc. Announces December 31, 2018 -- Interim Financial Statement Release

 Shelburne, NS ---February 27, 2019 --- Black Bull Resources Inc. (NEX:BBS.H) has released its Interim Report including the Financial Statements and Management's Discussion & Analysis for the first fiscal quarter ended December 31, 2018.

The Company recorded a net and comprehensive loss for the three-month period of $21,699 versus $20,912 for December 31, 2016, or ($0.01) per share versus ($0.01). Allowing for non-cash operating expense of $1,248 compared to $1,249 for December 31, 2017, the Company's operational cash loss was $20,421 versus $19,663 for December 31, 2017.

"The focus continues to complete a transaction" says Chris E Every President and CEO, "and reduce cash burn, although the Company's future is uncertain"

About Black Bull Resources Inc.
Black Bull Resources Inc. is a Canadian mining company based in Nova Scotia that owns the White Rock Mine near Shelburne. The mine produces a unique, bright, white, high-purity quartz, marketed under the Scotia WhiteTM trademark which is used in a range of value-added, specialty products.

The White Rock Property also contains an identified resource of kaolin and mica.

Further detailed information may be obtained from the Company's website www.blackbullresources.com or corporate filings at www.SEDAR.com. For other Company information contact:
Martin MacKinnon,
CFO
Black Bull Resources Inc.
Tel: 902-499-7183
Fax: 902-492-0700

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's mining properties, development results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in mineral prices, fluctuations in currency exchange rates, uncertainties relating to the availability and costs of financing needed in the future, the capital and operating costs varying significantly from estimates, delays in the development of projects, as well as those risk factors discussed or referred to in Management's Discussion and Analysis under the heading "[Risks and Uncertainties]" and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Unless required by law, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
 

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