Bridge Resources Corp V.BUK

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[molymoney]

			Bridge Resources Corp
			Symbol			BUK
			Shares Issued			159,281,246
			Close 2010-05-14			C$ 0.43
			Recent Sedar Documents

Bridge Resources closes $8.66-million bought deal

2010-05-17 15:03 ET - News Release

Mr. Edward Davies reports

BRIDGE RESOURCES CORP. CLOSES BOUGHT DEAL FINANCING

Bridge Resources Corp. has closed its previously announced bought deal private placement financing, including partial exercise of the underwriters' option, for total gross proceeds of $8,662,000. Pursuant to the offering, the company has issued 17,324,000 units of the company at a price of 50 cents per unit. The offering was completed by a syndicate of underwriters led by Mackie Research Capital Corporation and including PI Financial Corp. and Byron Securities Limited.

Each unit issued pursuant to the offering consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant shall be exercisable into one common share for a period of 18 months following the closing of the offering at a price of 75 cents per common share, provided that if the closing price of the common shares on the TSX Venture Exchange for a period of 20 consecutive trading days is at least $1.00 per common share, the company will be entitled to provide notice to the holders of the warrants advising that the warrants will expire on the date specified in such notice (which date will be not less than 30 days after such notice) if not exercised prior to such early expiry date. All of the securities issued in connection with the offering are subject to a four-month hold period in accordance with applicable securities laws and TSX Venture Exchange policy.

The proceeds received by the company from the sale of the units will be used by the company for the continuing exploration and development of its gas and condensate properties in Idaho.

In consideration for their services, the underwriters received a cash commission of 6.0 per cent of the gross proceeds of the offering and non-transferable common share purchase warrants equal to 6.0 per cent of the units issued pursuant to the offering.

We seek Safe Harbor.