Bison Gold Exploration Inc.
CNQ : BGEI

Bison Gold Exploration Inc.

May 16, 2008 09:30 ET

Bison Gold Exploration Inc. Announces Completion of Private Placement

TORONTO, ONTARIO--(Marketwire - May 16, 2008) - Bison Gold Exploration Inc. ("Bison Gold" or the "Company")(CNQ:BGEI) today announced the completion of a non-brokered private placement financing for gross proceeds of $500,000. The proceeds of the financing will be used to fund the Company's ongoing exploration programs in the province of Manitoba as well as working capital and general corporate services.

The Company has issued 2,300,001 flow-through shares at $0.15 per share for gross proceeds of $345,000. The Company has issued 1,033,333 non flow-through units at $0.15 per unit for gross proceeds of $155,000. Each unit consists of one non flow-through common share and one common share purchase warrant. Each share purchase warrant entitles the holder to purchase one common share of the Company at a price of $0.25 until May 16, 2010.

The Company paid a cash commission of $32,000 and issued 240,000 broker warrants for the financing. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.20 until November 16, 2009.

The securities issued are subject to a four month hold period expiring on September 16, 2008.

About Bison

Bison Gold Exploration Inc. is a Canadian public company listed on the CNQ. Bison Gold is focused on Gold Exploration with Property Assets in Canada. Further details can be found on Bison's website at www.bisongold.com.

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

Contact Information

  • Bison Gold Exploration Inc.
    Mr. Lucas Ewart
    CEO
    (416) 646-7649
    Website: www.bisongold.com