Bison Gold Exploration Inc.
CNQ : BGEI

Bison Gold Exploration Inc.

October 31, 2007 09:30 ET

Bison Gold Exploration Inc. (CNQ Symbol:BGEI) Announces Completion of Private Placement

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2007) - Bison Gold Exploration Inc. (the "Company")(CNQ:BGEI) today announced the completion of the first tranche of a non-brokered private placement financing for gross proceeds of $810,500. The proceeds of the financing will be used to fund the Company's ongoing exploration programs in Manitoba, Canada as well as working capital and general corporate services.

The Company has issued 1,868,333 flow-through units at $0.30 per unit for gross proceeds of $560,500. 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 October 30, 2009.

The Company has issued 1,000,000 non flow-through units at $0.25 per unit for gross proceeds of $250,000. Each unit consists of one non flow-through common share and 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 $0.35 until October 30, 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 March 1, 2008.

Contact Information

  • Bison Gold Exploration Inc.
    Mr. Lucas Ewart
    CEO
    (416) 488-7760