Bison Gold Resources Inc.
TSX VENTURE : BGE

Bison Gold Resources Inc.

January 17, 2011 16:51 ET

Bison Gold Resources Inc. Completes $400,000 Convertible Debenture Financing

TORONTO, ONTARIO--(Marketwire - Jan. 17, 2011) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is pleased to announce the completion of a $400,000 secured convertible loan financing (the "Loan") previously announced on December 14, 2010. $320,000 was subscribed for by GC-Global Capital Corp., a related party as a result of share ownership. The Loan has a term of one year, bears interest of 12% per annum and is convertible into units at a price of $0.235 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 $0.30 per share for a period of one year from the closing date. The securities issued are subject to a four-month hold period expiring May 17, 2011. 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.

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