Bald Eagle Announces Rebrand Under Hercules Silver and Provides Corporate Update

2022-08-04 04:06:53

TORONTO, Aug. 4, 2022 /CNW/ – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company“) (TSXV: BIG) (OTCQB: BADEF) (FWB: 6W0) is pleased to release its plans for a corporate name change to Hercules Silver Corp. to reflect the Company’s sole focus on it’s 100%-owned Hercules Silver Project in Idaho. The Company will now operate as and market itself as Hercules Silver Corp. The formal adoption of the new name remains subject to stock exchange and regulatory approvals. The Company will continue to trade under the same symbols on stock exchanges (TSXV: BIG) (OTCQB: BADEF) (FWB: 6W0).

The rebranding features a new redesigned website, www.HerculesSilver.com, which launches today where a new redesigned corporate presentation can also be found. Readers are encouraged to explore the new website which features a new look and new content with enhanced visuals.

Management Commentary

“The acquisition of the Hercules Silver Project was a significant achievement for the Company and was the result of over 18 months of hard work and dedication by our team,” said CEO and director, Chris Paul. “We are excited to celebrate the Company’s evolution to becoming a silver explorer in one of the best mining jurisdictions in the world. We are proud to unveil our newly re-designed website and presentation built by TSX Marketing Inc. in connection with our rebranding and we encourage readers to visit the website and download our new presentation.”

Name Change Detailed Information

The Company’s name change was approved by a special resolution at the Annual General and Special Meeting of the shareholders held on July 15, 2022 (for further details, please see the Company’s news release dated July 15, 2022) as well as by the Company’s board of directors. The name change remains subject to stock exchange and regulatory approvals. The Company will continue to trade under the same symbols on stock exchanges (TSX-V: BIG; OTCQB: BADEF; FWB: 6W0). Further details, including details regarding a new CUSIP number, will be included in a subsequent news release.  

Corporate Update

On July 15, 2022, the shareholders of the Company approved a new omnibus incentive plan (the “Plan“). The Plan provides for the issuance of incentive stock options (“Options“) and restricted share units (“RSUs“) to qualified directors, officers, employees and consultants of the Company.  Pursuant to the terms and conditions of the Plan, the maximum amount of the Company’s common shares (“Common Shares“) reserved for issuance under the Plan shall be limited to 29,341,745 Common Shares less any other Common Shares reserved for issuance pursuant to other securities based compensation arrangements.

The Company has granted an aggregate of 3,500,000 Options and an aggregate of 4,000,000 RSUs to certain directors, officers, employees and consultants of the Company. The Options and RSUs were granted in connection with the Company’s annual compensation review and pursuant to the Company’s omnibus incentive plan approved by shareholders of the Company on July 15, 2022. The Options have an exercise price of $0.09 and vest in twenty-five percent (25%) increments each six (6) months. The Options are exercisable for a period of 5 years from the date of the grant thereof. Two (2) million RSUs vested immediately and two (2) million RSUs will vest in twenty-five percent (25%) increments each six (6) months.

Furthermore, the Company announced the resignation of its President and Director, Raymond Harari. The Company thanks Mr. Harari for his efforts and wishes him all the best in his future endeavours.

About Bald Eagle Gold Corp.

Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.

Disclaimer for Forward-Looking Information

This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the 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 press release.

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