Bear Ridge Resources Ltd.
TSX : BER

Bear Ridge Resources Ltd.

May 12, 2006 12:22 ET

Bear Ridge Resources Ltd. Closes $23 Million Private Placement Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - May 12, 2006) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Bear Ridge Resources Ltd. (TSX:BER) is pleased to announce that it has closed its previously announced bought deal private placement of "flow-through" Common Shares ("Flow-Through Shares"). In aggregate, Bear Ridge issued 3,150,000 Flow-Through Shares at $7.35 per share for total gross proceeds of approximately $23,152,500 through a syndicate of underwriters led by Tristone Capital Inc. and including GMP Securities L.P., Canaccord Capital Corporation, FirstEnergy Capital Corp. and Orion Securities Inc. The net proceeds received from the sale of the Flow-Through Shares will be used to fund the continued exploration of Bear Ridge's properties.

Bear Ridge is a junior Canadian exploration, development and production company with operations focused in the West Central and Peace River Arch areas of Alberta and in Northeast British Columbia. The common shares of Bear Ridge are listed on the Toronto Stock Exchange, under the symbol "BER".

Contact Information

  • Bear Ridge Resources Ltd.
    Russell J. Tripp
    Chairman and Chief Executive Officer
    (403) 537-8440
    or
    Bear Ridge Resources Ltd.
    Douglas C. Hibbs
    President
    (403) 537-8440
    or
    Bear Ridge Resources Ltd.
    Brian A. Baker
    Vice President Finance and Chief Financial Officer
    (403) 537-8440
    or
    Bear Ridge Resources Ltd.
    2200, 330 - 5th Avenue SW
    Calgary, Alberta, T2P 0L4
    (403) 537-8450 (FAX)