Bravo Venture Group Inc.
TSX VENTURE : BVG
FRANKFURT : B6I

Bravo Venture Group Inc.

December 15, 2008 12:43 ET

Bravo Closes Previously Announced Equity Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2008) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that the company has now closed three previously announced non-brokered private placements for a total of 4.75 million common shares for total gross proceeds of C$1,692,500.

The company has now closed the previously announced (November 21st and 26th, 2008) non-brokered private placement consisting of 3.6 million units at a price of C$0.35 per unit to raise C$1.26 million. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share at an exercise price of C$0.40 per share for a period of two years from the closing date. In the event that the company's shares trade at a closing price of greater than $0.80 per share for a period of 20 consecutive days at any time after six months from closing, the company may accelerate the expiry date of the Warrants by providing notice to the shareholders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Corporation. The 3.6 million unit private placement with all the common shares issued pursuant to this unit offering, including share purchase warrants and units issued as finders fees, carry a legend restricting the shares from trading for a period of four months until April 13th, 2009. Net proceeds will be for general working capital.

The company has also closed on the previously announced (November 27th, 2008) non-brokered private placement consisting of 550,000 units at a price of C$0.35 per unit to raise C$192,500. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share at an exercise price of C$0.48 per share for a period of two years from the closing date. In the event that the company's shares trade at a closing price of greater than $0.80 per share for a period of 20 consecutive days at any time after six months from closing, the company may accelerate the expiry date of the Warrants by providing notice to the shareholders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Corporation. The 550,000 unit private placement with all the common shares issued pursuant to this unit offering, including share purchase warrants and units issued as finders fees, carry a legend restricting the shares from trading for a period of four months until April 13th, 2009.

Net proceeds will be for general working capital.

As well, the company has closed on the previously announced (November 21st, 2008) non-brokered flow-through private placement of 600,000 units at a price of C$0.40 per unit to raise C$240,000. Each unit consists of one common flow-through share and one-half non flow-through share purchase warrant, each whole warrant exercisable to purchase one additional common share at an exercise price of $0.50 per share for a period of eighteen months from the closing date. All proceeds from this placement will fund ongoing exploration costs at the Homestake Ridge project in NW British Columbia. The 600,000 unit private placement with all the common shares issued pursuant to this unit offering, including share purchase warrants and units issued as finders fees, carry a legend restricting the shares from trading for a period of four months until April 6th, 2009.

On behalf of the Board of Directors

Joseph A. Kizis Jr., Director, President, Bravo Venture Group Inc.

We seek safe harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

Contact Information