Bird River Closes Second Tranche of Financing for a total of $4,554,210

Winnipeg, Manitoba (FSCwire) - Bird River Resources Inc. (CSE: BDR) (“Bird River” or the “Company”) is pleased to announce that it has closed a second tranche of the non-brokered private placement announced on December 8, 2017 (the “Offering”) for gross proceeds of $1,151,800. First Republic Capital Corporation (“First Republic”) acted as the exclusive lead finder for the Offering. This closing follows a first tranche of financing that closed on December 22, 2017. In the second tranche, the Company issued 8,125,000 units (“Units”), at a price of $0.10 per Unit for gross proceeds of $812,500 and 2,610,000 “flow-through” common shares (each a “FT Share”), at a price of $0.13 per FT Share for gross proceeds of $339,300. Each Unit consists 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.

Insiders of the Company subscribed for 500,000 Units. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to the insiders does not exceed 25% of its market capitalization.

Together with the first tranche, the Company issued a total of 35,055,000 Units and 8,067,000 FT shares for total gross proceeds of $4,554,210.

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 years 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.

Together with the first tranche, the Company issued a total of 2,930,250 Broker Unit Warrants and 726,030 Broker Share Warrants to the selling group.

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 very pleased with the support our shareholders have demonstrated in allowing us close this financing oversubscribed”, said Jon Bridgman, Chief Executive Officer. “We will now deliver on our business plan of exploring new oil and gas drilling opportunities while determining how to apply blockchain technology to existing oil and gas 3D seismic data.”

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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