Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

April 30, 2007 17:17 ET

Bard Closes $4,894,490 Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 30, 2007) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to announce that on April 27, 2007, it closed the brokered private placement announced April 16, 2007 to raise $4,894,490 in gross proceeds. The Company, through Canaccord Capital Corporation as agent, sold 7,093,000 flow-through units at a price of $0.25 per flow-through unit and 13,392,000 non-flow-through units at a price of $0.22 per non-flow-through unit, which includes units sold in the over-allotment option that Canaccord exercised under its agency agreement with the Company. Concurrently with the closing of the brokered private placement, the Company also completed a non-brokered private placement of 700,000 flow-through units at the same price and having the same terms and conditions as the brokered flow-through units. Insiders of the Company participated in the non-brokered private placement as follows: Eugene Beukman (300,000 flow-through units) and James Miller-Tait (20,000 flow-through units). Each flow-through unit consists of one flow-through common share of the Company and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.30 until April 27, 2009. If, during the term of the Warrants, the weighted average trading price of the Company's common shares exceeds $0.60 for each of 20 consecutive trading days, the Company may give notice to the warrant holders that the warrants will expire in 30 days following the date of the delivery of the notice unless exercised within that time. Each non-flow-through unit consists of one non-flow-through common share of the Company and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.25 until April 27, 2009.

All of the securities issued under the private placement are subject to a four month hold period expiring on August 28, 2007.

Bard intends to use the proceeds from the private placement to increase exploration in Canada, with specific focus on its Lone Pine Property in Northern BC, property acquisitions and general corporate purposes.

In connection with the private placement, the Company paid to Canaccord Capital Corporation as agent a cash commission equal to 8% of the gross proceeds of the private placement (excluding subscribers on the President's List). Canaccord also received share purchase warrants to purchase up to 2,048,500 non-flow-through common shares of the Company (equal to 10% of the total units sold by the agent), having the same terms and conditions as the private placement non-flow-through warrants. The Company also issued 200,000 non-flow-through units to Canaccord as a corporate finance fee.

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like "strategy", "expects", "plans", "believes", "will", "estimates", "intends", "projects", "goals", "targets", and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. The forward-looking statements contained in this business plan are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbor for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995.

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

Contact Information

  • Bard Ventures Ltd.
    Eugene Beukman
    President
    (604) 687-2038
    (604) 687-3141 (FAX)
    Website: www.bardventures.com