North Bay Resources Inc (NBRI)

[Anvil]

a point of clarification:

1. Ximen trades very thinly, last trade was on 4/2, it closed on the TSX-V at $.13
2. It also trades on the OTCMarkets and closed at $.083 with the last trade on 3/30.

3. Part of the difference is fx rates/very low liquidity in the states resulting in the lower price in the US.

4. There was a comment of $.13 vs the $.15 offering price. Would to certain respect agree, as a private placement purchaser is getting a 2 year warrant with a stike price of $.25. But obviously, not many have been jumping at the opportunity as the placement has been in the market for 3 months (initially announced in 12/2014) and looks to close on $175k in the first tranche "soon".

5. 2 points on the differences between the TSX-V and OTC;

1) In order to issue shares for debt repayment, Ximen must seek exchange approval, as it is doing now for $221k of debt for shares priced at $.15 (no discount);

2) in regards to Malc's comment

The Canadians do not allow discounted convertible debt financing. Just ever lower and lower private placements.

Not true, the TSX-V won't let a company raise capital at less than $.05/share. So if one is trading at $.02, they need to find buyers to buy into a placement at $.05 or above.