Bison Gold Exploration Inc.

Bison Gold Exploration Inc.

December 31, 2007 16:30 ET

Bison Gold Exploration Inc. Announces Completion of Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 31, 2007) - Bison Gold Exploration Inc. ("Bison Gold" or the "Company") (CNQ:BGEI) today announced the completion of the third tranche of a non-brokered private placement financing for gross proceeds of $400,000. The proceeds of the financing will be used to fund the Company's ongoing exploration programs in the province of Manitoba.

The Company has issued 1,333,333 flow-through units at $0.30 per unit for gross proceeds of $400,000. Each unit consists of one flow-through common share and one half of one common share purchase warrant. Each full share purchase warrant entitles the holder to purchase one common share of the Company at a price of $0.40 until December 28, 2009.

The Company paid a cash commission of 8% of the gross proceeds. The securities issued are subject to a four month hold period expiring on April 28, 2008.

Since August, 2007, the Company has raised gross proceeds of $1,695,400 including $970,400 in flow-through private placement financings, $475,000 in non flow-through private placement financings and $250,000 in convertible loan financings.

About Bison

Bison is a CNQ-listed company focused on exploring for high grade gold with property assets in Manitoba, Saskatchewan and Nevada. Bison Gold is led by a seasoned management team with the primary focus of delivering shareholder value appreciation.

As of December 31, 2007 the Company had 25,737,168 common shares outstanding and 36,289,500 common shares fully diluted.

The CNQ does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bison Gold Exploration Inc.
    Mr. Lucas Ewart
    (416) 646-7649