Bison Gold Resources Inc.
TSX VENTURE : BGE

Bison Gold Resources Inc.

September 09, 2010 09:30 ET

Bison Gold Resources Inc. Arranges $450,000 Private Placement and $350,000 Convertible Debenture Financing

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is pleased to announce that it has arranged a non-brokered private placement financing of 2,500,000 units at $0.18 per unit for gross proceeds of $450,000. Each unit consists of one common share and one half of one common share purchase warrant. Each full warrant entitles the holder to purchase one common share at a price of $0.25, and has an expiry period of two years. All common shares issued will be subject to a four-month hold period. Proceeds of the private placement financing will be used for general working capital purposes.

The Company has also arranged a $350,000 secured convertible loan financing (the "Loan") with GC-Global Capital Corp. The Loan has a term of one year, bears interest of 12% per annum and is convertible into units at a price of $0.20 per unit. Each unit consists of one common share and one half of one common share purchase warrant. Each full warrant will entitle the holder thereof to purchase an additional common share of the Company at $0.25 per share for a period of two years from the closing date. The proceeds of the Loan will be used for general working capital purposes. The Loan is secured by a general security agreement on all present and future movable property of Bison Gold.

Closing of the private placement and convertible debenture are subject to TSX Venture approval.

About Bison Gold

Bison Gold is a Canadian public company listed on the TSX Venture Exchange. Bison Gold is focused on gold, base metal and rare element exploration with property assets in Manitoba, Canada. Bison Gold's land holdings have historically produced in excess of 200,000 ounces of gold. Further details can be found on Bison Gold's website at www.bisongold.com.

We seek safe harbour. This news release contains forward-looking statements regarding the timing and content of upcoming programs and may be subject to regulatory approval. Actual results may differ materially from those currently anticipated in such statements.

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.

Contact Information

  • Bison Gold Resources Inc.
    Mr. Lucas Ewart
    CEO
    (416) 488-2590