NORTH BAY RESOURCES INC. (OTCMKTS:NBRI) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities
from KBM Worldwide, Inc. (“KBM “) to partially satisfy a
$98,500 Convertible Promissory Note Agreement (“the KBM Note”)
dated August 6, 2014 with KBM. 76,125,000 shares were
subsequently issued to satisfy $6,090 of the outstanding
principal in accordance with the terms of the KBM Note. As of the
date of this report the remaining amount currently outstanding on
the KBM Note is $93,233.
from Typenex Co-Investment, LLC (“Typenex”) to partially
satisfy a $280,000 Convertible Promissory Note Agreement (“the
Typenex Note”) dated October 1, 2013 with Typenex. 105,500,000
shares were subsequently issued to satisfy $7,385 of the
outstanding principal and interest in accordance with the terms
of the Typenex Note. As of the date of this report the remaining
amount currently outstanding on the Typenex Note, including
accrued interest and other fees, is now $75,336.
from Tangiers Investors LP, (“Tangiers”) to partially satisfy a
$750,000 Convertible Promissory Note Agreement (“the Note”)
dated October 2, 2012 with Tangiers. 152,571,429 shares were
subsequently issued to satisfy $10,680 of the outstanding
principal and interest in accordance with the terms of the Note,
as amended on December 5, 2014. As of the date of this report the
remaining amount currently outstanding on the Note, including
accrued interest, is now $411,817.
from LG Capital Funding LLC (“LG”) to partially satisfy a
$33,000 Promissory Note (“the LG Note #2”) dated February 3,
2014, with LG. An aggregate of 87,027,714 shares were
subsequently issued to satisfy $6,092 of the outstanding
principal and interest in accordance with the terms of the LG
Note #2. As of the date of this report the remaining amount
currently outstanding on the LG Note #2, including accrued
interest, is now $5,855.
defined under Rule 501 of Regulation D. The Company believes that
these transactions are exempt from registration with the
Securities and Exchange Commission to Section 4(2) of the
Securities Act of 1933, as amended.
incorporated by reference as Exhibits 10.1 through 10.5.
shares of its common stock issued and outstanding and
1,948,365,631 shares in the public float.
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10.1
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Nine Month Convertible Promissory Note with KBM Worldwide,
Inc. dated August 6, 2014, as previously filed with the Companys filing of Form 8-K, SEC file number 000-54213, filed on August 12, 2014, and incorporated by this reference as an exhibit to this Form 8-K |
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10.2
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Thirteen Month Secured Convertible Promissory Note with
Typenex Co-Investment, LLC dated October 1, 2013, as previously filed with the Companys filing of Form 8-K, SEC file number 000-54213, filed on October 4, 2013, and incorporated by this reference as an exhibit to this Form 8-K |
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10.3
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Twenty-Four Month Convertible Promissory Note with Tangiers
Investors, LP dated October 2, 2012, as previously filed with the Companys filing of Form 8-K, SEC file number 000-54213, filed on October 3, 2012, and incorporated by this reference as an exhibit to this Form 8-K |
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10.4
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Master Loan and Security Agreement with Tangiers Investors
dated December 5, 2014, as previously filed with the Companys filing of Form 8-K, SEC file number 000-54213, filed on December 12, 2014, and incorporated by this reference as an exhibit to this Form 8-K |
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10.5
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Nine Month Convertible Redeemable Note with LG Capital
Funding, LLC dated February 3, 2014, as previously filed with the Companys filing of Form 8-K, SEC file number 000-54213, filed on February 6, 2014, and incorporated by this reference as an exhibit to this Form 8-K |
About NORTH BAY RESOURCES INC. (OTCMKTS:NBRI)
North Bay Resources Inc. seeks to acquire, explore, develop, and exploit natural resource properties with reserves of precious metals, including gold, silver, platinum, and palladium, as well as base metals, including copper, zinc, lead and molybdenum. The Company’s business plan is based on the Generative Business Model, which is designed to leverage its mining properties and mineral claims into near-term income streams even during the earliest stages of exploration. The Company’s Ruby Mine is an underground placer and lode mine located between Downieville and Forest City, in Sierra County, California. The Company focuses on entering into sales, joint-venture, and/or option contracts with other mining companies. The Company’s long term plan is to locate and extract gold and silver from its exploration stage properties. The Company also holds interest in Fraser River Project. As of September 30, 2015, the Company had not recognized any mining revenue. NORTH BAY RESOURCES INC. (OTCMKTS:NBRI) Recent Trading Information
NORTH BAY RESOURCES INC. (OTCMKTS:NBRI) closed its last trading session 00.00000 at 0.00010 with 3,510,000 shares trading hands.
