Brett Resources Inc.
TSX VENTURE : BBR

Brett Resources Inc.

June 24, 2008 11:48 ET

Brett Closes $6.75 Million Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Brett Resources Inc. (TSX VENTURE:BBR) announces it has closed the brokered potion of a private placement financing announced on June 3, 2008. Canaccord Capital Corporation (the "Agent") placed 3,437,500 units (the "Units") and 4,210,600 flow-through common shares (the "Flow-Through Common Shares") at a price of $0.80 per Unit and $0.95 per Flow-Through Common Share for gross proceeds of $6,750,070 (the "Offering"). Each Unit is comprised of one common share and one-half of one common share purchase warrant. Each full warrant will be exercisable into one common share of the Company at an exercise price of $1.10 for a period of 18 months from the closing date.

As consideration to the Agent, Brett has paid a commission of 7.0% of the total proceeds raised upon closing and issued Agent's warrants ("Agent's Warrants") equal to 7.0% of Units and Flow-Through Common Shares issued pursuant to this Offering. Each Agent's Warrant will be exercisable to acquire one common share at $0.95 expiring 18 months after the closing date. In addition, a corporate finance fee was also paid to the Agent.

The shares issued under this financing have received regulatory approval, and will be subject to a hold period of four months plus one day from today's date.

The Company intends to use the net proceeds for exploration of its mineral properties. Expenditures from the Flow-Through Common Shares will constitute Canadian exploration expenses (as defined in the Income Tax Act) and renounced for the 2008 taxation year.

ON BEHALF OF THE BOARD OF DIRECTORS OF BRETT RESOURCES INC.

Patrick Soares, President & CEO

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information