This release is intended for distribution in Canada only and is not
intended for distribution to United States newswire services or for
dissemination in the United States
All Gold Bullion shareholders to receive one share of Castle Silver
Mines for approximately every 85 shares of Gold Bullion held on
distribution record date
VANCOUVER, Sept. 20, 2011 /CNW/ - Gold Bullion Development Corp.
(TSXV:GBB) (OTCPINK:GBBFF) wishes to advise its shareholders that the
preliminary prospectus dated September 16, 2011 of its wholly-owned
subsidiary Castle Silver Mines Inc. is now available under Castle
Silver Mines' company profile on SEDAR at www.sedar.com. As previously announced, the prospectus is intended to qualify the
distribution by Gold Bullion of an aggregate of approximately 1,950,000
common shares of Castle Silver Mines to all shareholders of Gold
Bullion by way of dividend in kind.
All Gold Bullion shareholders will receive one common share of Castle
Silver Mines for approximately every 85 issued and outstanding Gold
Bullion shares on the distribution record date. The distribution record
date will be set by the Board of Directors of Gold Bullion in
accordance with the policies of the TSX Venture Exchange, at which time
Gold Bullion will issue a press release announcing the record date and
the final distribution ratio.
The preliminary prospectus provides all details regarding the "spin-out"
of Castle Silver Mines. Gold Bullion recommends that its shareholders
review the prospectus carefully.
The distribution by Gold Bullion of the shares of Castle Silver Mines is
subject to regulatory approval, including that of the TSX Venture
About Castle Silver Mines Inc.
Castle Silver Mines Inc. was incorporated in March 2011 as a
wholly-owned subsidiary of Gold Bullion, for the purpose of taking over
the silver assets and exploration activities currently carried on by
Gold Bullion, so that Gold Bullion can devote itself solely to
exploration for gold. Prior to the distribution record date, Castle
Silver Mines Inc. will acquire the Castle Silver Mine property in
Gowganda, Ontario from Gold Bullion, which comprises Gold Bullion's
sole silver exploration property. After such transfer, Gold Bullion
does not intend to be directly involved in silver exploration. Castle
Silver Mines may acquire additional interests in silver exploration
properties in the future.
About Gold Bullion Development Corp.
Gold Bullion Development Corp. is a TSX Venture-listed junior natural
resource company focusing on the exploration and development of its
Granada Property near Rouyn-Noranda, Québec, and its Castle Silver Mine
property in Gowganda, Ontario.
For more information on Gold Bullion Development Corp. (TSXV:GBB)
(OTCPINK:GBBFF), visit our web site: http://www.GoldBullionDevelopmentCorp.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but
not limited to comments regarding the timing and content of upcoming
work programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from
those currently anticipated in such statements.
SOURCE Gold Bullion Development Corp.
For further information:
Frank J. Basa, P.Eng., President and Chief Executive Officer
Tel.: (416) 625-2342
Roger Thomas, Director
Tel.: (613) 292-2438
Progressive Investor Relations (Canada)
Tel.: (604) 689-2881 or e-mail firstname.lastname@example.org
Torrey Hills Capital (United States) Tel.: (858) 456-7300