RE: This is absolute CRAP!!!T01
My apologies, I've attached the wrong news release to my earlier post. I'm so pi$$ed off I overlooked it. Here's the proper "updated" release, unfortunately...it's worse than the one I originally posted...As such, FD number should be approx 185 million.
T2
Bridge increases bought deal to $35-million
2008-06-27 15:27 ET - News Release
Mr. Edward Davies reports
BRIDGE RESOURCES CORP. ANNOUNCES INCREASE TO BOUGHT DEAL FINANCING
Bridge Resources Corp., in response to strong market demand, is increasing the size of its previously proposed equity financing. Under the terms of a revised engagement letter with the underwriters, the company will now issue a total of 30.44 million units at a price of $1.15 per unit for gross proceeds of $35,006,000, including 21,744,300 units sold pursuant to the full exercise of an option granted to the underwriters. The units will maintain the same terms as previously announced.
The offering of the units is subject to certain conditions including normal regulatory approvals, including approval of the TSX Venture Exchange. The units are being offered by way of private placement in certain provinces of Canada as agreed between the underwriters and Bridge, and in other jurisdictions on a private-placement basis pursuant to applicable exemptions from registration and prospectus requirements. Closing is anticipated to occur on or about July 10, 2008. Wellington West Capital Markets Inc. is acting as bookrunner for this financing.
Bridge will apply the net proceeds of this issue toward drilling of the North Piper oil exploration well in central North Sea and for general corporate purposes