BrazAlta Resources Corp.
TSX VENTURE : BRX

BrazAlta Resources Corp.

June 05, 2006 09:24 ET

BrazAlta Resources Corp. Announces $5 Million Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - June 5, 2006) -

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

BrazAlta Resources Corp. (TSX VENTURE:BRX) ("BrazAlta" or the "Corporation") has entered into a financing agreement to issue 4,546,000 common shares on a "bought deal" private placement basis (the "Financing"), at a price of $1.10 per common share. The Financing is being completed by Westwind Partners Inc. The aggregate gross proceeds of the Financing are $5,000,600. The Corporation intends to use the net proceeds to pay for a recently acquired drilling rig with the balance being used to fund the Corporation's exploration and development program. The Financing is scheduled to close on or about June 21, 2006 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

BrazAlta is a publicly traded Canadian based international oil and gas corporation with operations in Brazil, Northern Ireland and Canada.

This press release may contain statements within the meaning of safe harbour provisions as defined under US Laws and Regulations. The above statements are based on the current expectations and beliefs of BrazAlta's management and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above. BrazAlta does not undertake any responsibility with regard to the accuracy of this press release nor the obligation to update the abovementioned information.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • BrazAlta Resources Corp.
    David R. P. Mears
    President & CEO
    (403) 561-1648
    Email: dmears@brazalta.com