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Message: Private Placement
| March 25, 2009 |
| Bluerock Resources Ltd.: Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2009) - Bluerock Resources Ltd. (TSX VENTURE:BRD) (the "Company") - NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES The Company announces a non-brokered private placement to issue up to 2,750,000 subscription receipts at $0.10 per receipt, to raise up to C$275,000 (the "Offering"). Subscription receipts will be issued pending the Company's consolidation of its outstanding share capital (see Company's news release of March 13, 2009). Each subscription receipt will entitle the holder to receive one Unit, for no additional consideration, upon closing of the said consolidation; each Unit to consist of one post-consolidated common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional post-consolidated common share, exercisable for two years from the closing date, at a price of $0.15 per share. The Company will use the private placement funds for its general working capital purposes and to pay certain outstanding debts. Finder's fees may be paid in accordance with the guidelines of the TSX Venture Exchange. The private placement is subject to approval of the TSX Venture Exchange. The Company also announces that Clifford C. Rennie has resigned as a Director and Chairman of the board of the Company. The Company would like to take this opportunity to acknowledge the time and effort that Mr. Rennie has put into the Company and wishes him well in his future endeavours. ON BEHALF OF THE BOARD OF DIRECTORS Michael Collins, President and CEO |
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