Re: Funding package to move to production

Bluebird Merchant Ventures (EPIC: BMV), the Korean focused gold development group is pleased to provide a clarification to the announcement that was made on 12 April 2022.  The funding package that was announced is anticipated to provide the Company with at least USD 3.1 million of funding once fully completed.

The Company stated that “13,003,268 shares have been issued at an average price of 2 pence per share and warrants over 25,280,000 shares with an exercise price of 2.5 pence per share and three-year.” 

The correct number is 12,003,268 shares and these have been issued at an average price of 2 pence per share. New warrants over 15,280,000 shares with an exercise price of 2.5 pence per share and a three-year life have been issued and existing warrants over 9,464,916 shares expiring on 12 September 2024 have also been repriced to 2.5 pence per share.  The existing loan of £250,000 remains in place with the Company and management intends to repay this in the short term.

The Company will make application for the shares to be admitted to trading which is now expected on or around 26 April 2022.  Upon Admission there will be 634,319,056 shares in issue.



Bluebird Merchant Ventures Ltd

Jonathan Morley-Kirk, Non-Executive Chairman                      

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