VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 31, 2008) - BONAVENTURE ENTERPRISES INC. (TSX VENTURE:BVT)(FRANKFURT:YQG) (the "Company") announces further to its news release dated December 17, 2008, that its private placement has been amended from 22,666,666 flow-through units at a price of $0.03 per unit to 22,971,160 flow-through units at a price of $0.025 per unit to raise proceeds of $574,279. Each unit is comprised of one flow-through common share of the Company and one transferable share purchase warrant, each warrant exercisable to purchase one non-flow-through common share for a period of two years following the closing, at a price of $0.10 per share during the first year and $0.15 per share during the second year.
At the closing the Company paid a finder's fee to Limited Market Dealer Inc. consisting of a cash commission equal to 5% of the proceeds raised and compensation options exercisable to purchase 2,297,116 units, at a price of $0.025 per unit, for a period of two years, each unit consisting of one common share and one non-transferable share purchase warrant, with each warrant exercisable to purchase an additional common share for a period of two years following the closing, at a price of $0.10 per share during the first year and $0.15 per share during the second year.
All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units and any shares issued upon exercise of the compensation options and underlying warrants, are subject to a hold period and may not be traded in Canada until May 1, 2009, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
About Bonaventure Enterprises
Bonaventure Enterprises Inc. is a mineral exploration company focused on developing a diversified portfolio of excellent uranium properties in Canada and promising gold properties in Nevada, with the goal of establishing National Instrument 43-101 compliant Mineral Resources in the near term. The property portfolio consists of uranium and gold exploration assets.
The Company has a 100% interest in the flagship K9 Uranium Property located in the James Bay region in Quebec, as well as other uranium assets located in the North Shore region of Quebec and in the Athabasca Basin in Saskatchewan.
The Company holds highly prospective gold exploration properties in Nevada with the potential to host Carlin-type gold deposits. The Company has an option agreement to acquire up to 60% interest in the New Pass Property located in Austin, Nevada and the Squaw Creek Property located on the northern extension of the Carlin Trend in northern Nevada. The Company also holds a 100% interest in the Goldfields, Cottonwood, Jet and Northern Lights properties located in western and southern Nevada. The 3,020 acres (12.2 km2) Squaw Creek Property and 2,140 acres (8.7 km2) New Pass properties are under a joint venture with White Knight Gold (U.S.) Inc., a wholly owned subsidiary of U.S. Gold Corporation (TSX:UXG).
About MineralFields, Pathway and First Canadian Securities (R)
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R).
On behalf of the Board of Directors
Jean Lafleur, P. Geo., President and CEO, Director
For further information on the Company, please visit our website at www.bonaventure.us.
The Company's public documents may be accessed at www.sedar.com. |
