Vancouver, BC / ACCESSWIRE / May 22, 2014 / BHK Resources Inc. (the "Company or BHK") (TSX-V: BHK.P), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the "TSX-V"), announces that it has executed a definitive share purchase agreement with Silver Bull Resources Inc. ("Silver Bull") (SVB.TO)(SVBL.NYSE MKT) in connection with its proposed acquisition of Dome International Global Inc. ("Dome"), a private British Virgin Islands company which holds, indirectly, a 100% interest in and to the Ndjole manganese and gold project (the "Project"), located in Gabon, as announced on December 16, 2013 (the "Transaction").
Pursuant to the Transaction, the Company will acquire all of the issued and outstanding securities of Dome from a wholly owned subsidiary of Silver Bull for an aggregate payment of USD$1,500,000, payable in cash, of which USD$25,000 was previously paid as a non-refundable deposit. Upon the completion of the Transaction, Dome will become a wholly owned subsidiary of the Company.
Further details concerning the Transaction, the Project and a concurrent financing to be completed with the Transaction, as well as other matters will be announced and incorporated into a filing statement concerning the Transaction, as soon as they are available.
BHK recognizes the opportunity for a well-managed, professional junior miner in Gabon, and is in the process of acquiring the Ndjole prospecting licence in a region where near-surface manganese mineralization is wide spread.
For further information contact:
Telephone: 604 341 4691
Email: [email protected]
On behalf of the Board of Directors
President, Chief Executive Officer
Completion of the transaction is subject to a number of conditions, including but not limited to, exchange acceptance and if applicable pursuant to exchange requirements, majority of the minority 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 a capital pool company should be considered highly speculative.
The TSX-V has in no way passed upon the merits of the proposed transaction.
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.
SOURCE: BHK Resources Inc.