| | June 27, 2006
Private Placement Closed
Bard Ventures Ltd. ("Bard" or the "Company") is pleased to announce that it has closed a brokered private placement through Canaccord Capital Corporation (the "Agent") announced May 18, 2006 and amended May 31, 2006. The Company sold 450,000 Units at a price of $1.00 per Unit for gross proceeds of $450,000. Each Unit consists of seven (7) flow-through common shares and one non-flow-through unit (a "Non FT Unit"). Each Non FT Unit consists of three (3) non-flow-through common shares and one non-transferable non-flow-through share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional common share of the Company (a "Warrant Share") for a term of 18 months from the date of closing at a price of $0.12 per Warrant Share.
The Company paid the Agent a cash commission of $33,750 equal to 7.5% of the gross proceeds sold by the Agent. The Company also issued to the Agent, share purchase warrants (the "Agent's Warrant") to acquire that number of common shares equal to 10% of the total number of Units sold by the Agent. The Agent's Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.12 per common share on or before December 26, 2007. The Company also paid to the Agent a corporate finance fee of 50,000 units (the "Corporate Finance Units"), each Corporate Finance Unit consists of one common share and one common share purchase warrant entitling the Agent to purchase one additional common share of the Company (a "Corporate Finance Warrant Share") for 18 months from the date of closing at a price of $0.12 per Corporate Finance Warrant Share. The Company has also paid an administration fee of $5,000. The securities are subject to a hold period expiring on October 27, 2006.
The proceeds from this offering will be used for further exploration of the Company's gold and base metal properties in British Columbia.
On behalf of:
Bard Ventures Ltd.
"Eugene Beukman"
Eugene Beukman, President
For further information please visit our website at www.bardventures.com
Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like "strategy", "expects", "plans", "believes", "will", "estimates", "intends", "projects", "goals", "targets", and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. The forward-looking statements contained in this business plan are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbor for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995."
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF CONTENT OF THIS PRESS RELEASE |
|
| | You can view the Next News Releases item: Wed Aug 9, 2006, Exploration Program on Wasi
You can view the Previous News Releases item: Mon Jun 5, 2006, Company Update Uranium and Molybdenum Portfolio
You can return to the main News Releases page, or press the Back button on your browser.
|
