Bullfrog Gold Corp. (OTCBB:BFGC) (“Bullfrog” or the “Company”) is pleased to announce that on September 30, 2011, it consummated a merger with Standard Gold Corp (“Standard Gold”) whereby Standard Gold became the Company’s wholly owned subsidiary. Standard Gold was incorporated in Nevada on January 12, 2010 and is a junior exploration company.
Additionally, on September 30, 2011, the Company raised approximately $3.6 million through the private placement of the Company’s units (“Units”), at a per Unit price of $0.40, with each Unit consisting of one share of the Company’s Common Stock, par value $0.0001 per share (except that certain purchasers elected to purchase Units that consisted of (in lieu of one share of Common Stock) one share of the Company’s Series A Preferred Stock, par value $0.0001 per share, which is convertible into one share of Common Stock) and one warrant to purchase fifty percent of the number of shares purchased in the offering with an exercise price of $0.60 per share. The warrants are exercisable for a period of three years from the date of issuance. The Company currently has outstanding 29,897,846 shares of Common Stock and 4,586,539 shares of Series A Preferred Stock.
“This merger and private placement will allow us to further explore and develop our gold project in Arizona; explore our highly prospective gold project adjacent to a major mine in Nevada; and evaluate selective mineral assets for acquisition,” according to Dave Beling, President and CEO of Bullfrog.
Bullfrog filed a Current Report on Form 8-K/A with the Securities and Exchange Commission on October 7, 2011 that describes the terms of the merger and the private placement.About Bullfrog Gold Corp. The Company was incorporated under the laws of the State of Delaware on July 23, 2007 as Kopr Resources Corp., but changed its name to Bullfrog Gold Corp. on July 19, 2011. The Company has recently employed and engaged the following management and professional personnel to build the Company and advance its projects.