WINNIPEG, MB – Bird River Resources Inc. (CSE:BDR) (“Bird River” or the “Company“) is pleased to announce that it has retained First Republic Capital Corporation (“First Republic“) to act as its exclusive lead finder in respect of a non-brokered private placement to raise up to $700,000 (the “Offering“) on a best efforts basis.
Under the Offering, the Company intends to issue up to 7,000,000 common shares at ten cents ($0.10) per common share.
The Company has agreed to pay First Republic a sales commission up to 7% of the gross proceeds of the Offering and a selling compensation of Broker Share Warrants up to 7% of the aggregate number of common shares sold in the Offering.
The net proceeds from the Offering will be used for working capital purposes and business development.
All securities issued pursuant to the offerings will be subject to a statutory four (4) month hold period from their closing date(s) and to any and all necessary corporate and regulatory approvals. Further information will be provided at a later date.
Changes in Board of Directors
The Company is pleased to announce that Mr. Warren Hawkins has been appointed to the Board to fill recent vacancies. Warren is a graduate of University of Waterloo in Applied Science in Geological Engineering. Over the past 20 years, Mr. Hawkins has provided various consulting services to a number of clients on resource exploration, project management, environmental and remediation. Mr. Hawkins is a Qualified Person under National Instrument 43-101. Earlier in his business career he was employed in the investment industry for ten years. He is presently exploration consultant to Richmond Minerals Inc., listed on the TSX Venture Exchange. Additionally, the Company regrets to report that Mr. Martin Dallaire and Mr. Thibaut Segeral have recently resigned from the Board of Directors due to personal matters.
About Bird River Resources Inc.
Established in 1958, Bird River Resources Inc. is a Winnipeg, Manitoba based diversified resource company which currently holds a net royalty smelter (NSR) interest in a platinum palladium property in the Bird River Sill area of northeastern Manitoba near the Ontario border. The Company formerly owned investments interests in the oil and gas industry in Alberta and Manitoba which were recently sold. Management and the Board of Directors are currently reviewing new business opportunities in various resource related activities. Additional information on the Company is available at www.SEDAR.com.