| | April 16, 2007
Bard Announces Revised Pricing For $2,951,200 Financing
NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA U.S. NEWSWIRE SERVICES.
Bard Ventures Ltd. ("Bard" or the "Company") has agreed to revised pricing for the previously announced financing with Canaccord Capital Corporation (the "Agent"). The Company will now offer 7,000,000 flow-through units at $0.25 per unit (the "FT Units") and 5,460,000 non flow-through units at $0.22 per unit (the "NFT Units"), for gross proceeds of approximately $2,951,200. In addition, the Agent may solicit subscriptions for additional proceeds of $2,000,000 by offering any combination of up to 60% FT Units and a minimum of 40% NFT Units. The Agent will advise of the exercise of the over-allotment option 48 hours prior to closing of the Offering.
Each NFT Unit consists of one common share and one-half of one common share purchase warrant (the "NFT Warrants"). Each whole NFT Warrant entitles the holder to purchase one additional common share at an exercise price of $0.25 per common share for 24 months from the date of closing.
Each FT Unit consists of one flow-through common share and one-half of one flow-through warrant (the "FT Warrants"). Each whole FT Warrant entitles the holder to purchase one additional common share at an exercise price of $0.30 per common share for 24 months from the date of closing. However, if over a period of 20 consecutive trading days between the date that is 4 months following the closing of the Offering and the expiry of the Warrants, the daily volume weighted average trading price of the common shares on the TSX Venture Exchange exceeds $0.60 on each of those 20 consecutive days, the Company may, within 30 days of such an occurrence, give written notice to the holders of the Warrants attached to the FT Units, that the Warrants will expire at 4:00 p.m. (Vancouver Time) on the 30th day following the giving of notice unless exercised by the holders prior to such date.
See the Company's press releases dated March 26, 2007 for further details relating to this financing.
Completion of the placement is subject to the approval of the TSX Venture Exchange.
On behalf of:
Bard Ventures Ltd.
(signed) "Eugene Beukman"
Eugene Beukman, President
For further information please visit our website at www.bardventures.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA U.S. NEWSWIRE SERVICES. |
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