Bard Ventures arranges $250,000 private placement

2013-02-18 17:18 ET - News Release


Mr. Eugene Beukman reports


Bard Ventures Ltd. has arranged a non-brokered private placement of up to five million units of the company at a price of five cents per unit for gross proceeds of up to $250,000. Each unit will consist of one common share and one transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the company for a period of 24 months from the closing date of the offering at a price of 10 cents.

Gross proceeds raised from the sale of the units will be used for exploration expenditures on the company's properties in British Columbia and for general corporate purposes.

The company may pay a finder's fee on some of the gross proceeds to certain introducing parties in respect of the offering, subject to compliance with applicable securities legislation and TSX Venture Exchange policies. The closing is subject to receipt of all necessary regulatory and board approvals. The securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

The company would also like to announce that it has set aside an aggregate of 2,319,870 incentive stock options for its directors, officers and consultants to purchase shares of the company at an exercise price of 10 cents per share for a period of five years.