BULGOLD Announces Filing of Fourth Quarter Financial Results for Three and Twelve Months Ended December 31, 2023
23 April 2024 - 9:30PM
BULGOLD Inc. (TSXV: ZLTO) (the “Company” or
“BULGOLD”) is pleased to announce that it has filed its audited
condensed interim financial statements and MD&A for the fourth
quarter and year ended December 31, 2023. During the three months
ended December 31, 2023, the Company incurred a net loss of
$264,578 ($0.01 per share). For the year ending December 31, 2023,
the company incurred a net loss of $1,873,160 ($0.08 per share),
including a non-cash expense of $734,269 being the cost of listing
(the cost of listing relates to the recently completed acquisition
of assets in Bulgaria). Other expenses incurred, primarily related
to professional fees for the completion of the acquisition. On
December 31, 2023, the company had cash (and cash equivalents) of
$2,015,716 (net working capital of $1,486,855) which will be used
to support exploration activities.
About BULGOLD Inc. BULGOLD is a
gold exploration company focused on the exploration and development
of mineral exploration projects in Central and Eastern Europe. The
Company controls 100% of three quality quartz-adularia epithermal
gold projects located in the Bulgarian and Slovak portions of the
Western Tethyan Belt: the Lutila Gold Project, the Kostilkovo Gold
Project and the Kutel Gold Project. Management of the Company
believes that its assets show potential for high-grade,
good-metallurgy, low-sulfidation epithermal gold
mineralisation.
On December 31, 2023, BULGOLD’s issued and
outstanding shares were 27,597,928 of which approximately 39.54%
were held by Founders, Directors and Management. Additional
information about the Company is available on BULGOLD’s website
(www.BULGOLD.com) and on SEDAR (www.sedar.com).
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.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains forward‐looking
statements and forward‐looking information within the meaning of
applicable securities laws. These statements relate to future
events or future performance and include statements regarding the
exploration plans of the Company and the timing thereof. All
statements other than statements of historical fact may be
forward‐looking statements or information. The forward‐looking
statements and information are based on certain key expectations
and assumptions made by management of the Company. Although
management of the Company believes that the expectations and
assumptions on which such forward-looking statements and
information are based are reasonable, undue reliance should not be
placed on the forward‐looking statements and information since no
assurance can be given that they will prove to be correct.
Forward-looking statements and information are
provided for the purpose of providing information about the current
expectations and plans of management of the Company relating to the
future. Readers are cautioned that reliance on such statements and
information may not be appropriate for other purposes, such as
making investment decisions. Since forward‐looking statements and
information address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks, including the inherent
uncertainty of mineral exploration; risks related to title to
mineral properties; and credit, market, currency, operational,
commodity, geopolitical, liquidity and funding risks generally,
including changes in economic conditions, interest rates or tax
rates and general market and economic conditions. Accordingly,
readers should not place undue reliance on the forward‐looking
statements and information contained in this press release. Readers
are cautioned that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this
press release are made as of the date hereof and no undertaking is
given to update publicly or revise any forward‐looking statements
or information, whether as a result of new information, future
events or otherwise, unless so required by applicable securities
laws. The forward-looking statements and information contained in
this press release are expressly qualified by this cautionary
statement.
For further information, please contact:
BULGOLD Inc.Sean Hasson, President
and Chief Executive OfficerTelephone: +359 2 989 2361Email:
information@BULGOLD.comWebsite: www.BULGOLD.com
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