Bird River Closes $3.4 Million First Tranche of Financing

Winnipeg, Manitoba (FSCwire) - Bird River Resources Inc. (CSE: BDR) (“Bird River” or the “Company”) is pleased to announce that it has closed the first tranche of the non-brokered private placement announced on December 8, 2017 (the “Offering”) for gross proceeds of $3,422,410. First Republic Capital Corporation (“First Republic”) acted as the exclusive lead finder for the Offering. The Company anticipates the Offering to be oversubscribed, with an additional tranche closing by December 29, 2017.

Pursuant to the Offering, the Company issued: (a) 27,130,000 units (“Units”), at a price of $0.10 per Unit, for gross proceeds of $2,713,000; and 5,457,000 “flow-through” common shares (each a “FT Share”), at a price of $0.13 per FT Share, for gross proceeds of $709,410. Each Unit will consist of one common share and one-half of one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one common share of the company at a price of $0.20 for a period of 24 months following the closing date of the Offering.

The proceeds from the sale of FT Shares will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current taxation year.

In connection with the Offering, members of the selling group received: (i) a corporate finance fee equal to 2% of the gross proceeds of the Offering, and (ii) a sales commission up to 7% of the gross proceeds of the Offering. As additional compensation the Company will issue to First Republic broker warrants to purchase Units at $0.10 for two year from closing in respect of the sale of Units (“Broker Unit Warrants”) and warrants to purchase common shares at $0.13 for two year from closing in respect of the sale of FT Shares (“Broker Share Warrants”) in the following amounts: (i) corporate finance Broker Unit Warrants or Broker Share Warrants equal to 2% of the aggregate number of Units or FT Shares, as the case may be, sold in the Offering, and (ii) selling compensation Broker Unit Warrants or Broker Share Warrants up to 7% of the aggregate number of Units or FT Shares, as the case may be, sold in the Offering.

All of the securities issued in connection with the Offering are subject to a hold period expiring four month plus one day from the closing date.

“We are grateful for the support shown by the market in this successful financing,” said Jon Bridgman Chief Executive Officer, “We look forward to executing on our business plan and delivering value for our shareholders.”

About Bird River Resources Inc.

Bird River Resources Inc. is a Winnipeg, Manitoba based resource exploration company which focuses on oil and gas exploration opportunities in southwestern Manitoba.  The Company presently holds a 5% gross and a 4% net participation in 12 oil wells of which 10 are producing. The common shares of the Company trade on the Canadian Securities Exchange under the symbol BDR.

This news release is for information purposes only and no statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities and may contain forward looking statements that are based upon current expectations or beliefs as well as a number of assumptions about future events and words such as may, should, could, will, expect, anticipate, estimate, believe, intend, project should not be taken out of context.

No stock exchange or securities commission has reviewed the adequacy or accuracy of this news release.

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