Bard Ventures Ltd. (“Bard” or the “Company”) is pleased to announce that the second and final tranche of the non-brokered private placement of flow-through units (the “FT Units”) and non flow-through units (the “Units”) announced on October 5, 2009 has closed, through the issuance of 2,250,000 Units at a price of $0.12 for total gross proceeds of $270,000.
Upon closing the first tranche on October 22, 2009, the Company raised gross proceeds of $764,000 through the issuance of 4,166,666 FT Units at a price of $0.12 per FT Unit and 2,200,000 Units at a price of $0.12 per Unit.
All of the securities issued under the private placement are subject to hold periods expiring four months and a day from closing of each tranche.
Each FT Unit consists of one flow-through common share and one transferable share purchase warrant entitling the holder to purchase one additional non-flow-through common share of the Company for two years from the closing date of the private placement at an exercise price of $0.20 until the first anniversary and $0.25 until the second anniversary. Each Unit consists of one common share and one transferable share purchase warrant entitling the holder to purchase one additional common share of the Company for two years from the closing date of the private placement at an exercise price of $0.15.
Bard intends to use the proceeds from the private placement to finance general exploration activities on the Company’s Lone Pine and Grouse Mountain properties in British Columbia and for general corporate purposes.
On behalf of:
Bard Ventures Ltd.
(signed) “Eugene Beukman”
Eugene Beukman, President
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This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
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