Blackdog Resources Ltd.
TSX VENTURE : DOG

Blackdog Resources Ltd.

November 11, 2009 08:00 ET

Blackdog Resources Ltd. Announces Amendment to the Terms of Financing

CALGARY, ALBERTA--(Marketwire - Nov. 11, 2009) - Blackdog Resources Ltd. ("Blackdog" or the "Company") (TSX VENTURE:DOG) announces that it has revised the pricing of its previously announced non-brokered private placement (the "Private Placement") of up to 4.0 million common shares ("Common Shares"). Pursuant to the Private Placement, the Company will issue up to 3.0 million Common Shares on a "flow-through" basis under the Income Tax Act (Canada)("Flow-Through Shares") at a price of $0.40 per Flow-Through Share, and will also issue up to 1.0 million Common Shares at a price of $0.35 per Common Share, for aggregate gross proceeds of up to $1.55 million. The Company may pay, to certain investment professionals, commissions or finders' fees of up to 8% of the gross proceeds raised in cash and up to 8% in broker warrants. Closing of the Private Placement is expected to close on or before November 29, 2009.

Blackdog is a junior oil and gas company focused on light oil production in Alberta and South East Saskatchewan. The Company currently has 16,722,447 common shares outstanding.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Blackdog. Although Blackdog believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Blackdog can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Blackdog undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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