Gold Bullion Development Corp. announces filing of preliminary prospectus for “spin-out” and initial public offering by Castle Silver Mines Inc

Gold Bullion Development Corp. (TSX-V: GBB and OTC Other: GBBFF) announced today that Castle Silver Mines Inc., a wholly-owned subsidiary of Gold Bullion, has filed a preliminary prospectus with the securities commissions of each of the provinces of Canada in connection with an initial public offering, and a secondary offering to the shareholders of Gold Bullion of shares of Castle Silver Mines by way of dividend in kind.

  • Castle Silver Mines initial public offering to raise maximum of $3.4 million
  • Proceeds from initial public offering to be used in part for exploration on Castle Silver Mine property, Gowganda, Ontario
  • Gold Bullion shareholders to receive one share of Castle Silver Mines for every 85 shares of Gold Bullion held on distribution record date

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