Bridge Resources Corp.

Bridge Resources Corp.

June 27, 2008 15:15 ET

Bridge Resources Corp. Announces Increase to Bought Deal Financing

CALGARY, ALBERTA--(Marketwire - June 27, 2008) -


Bridge Resources Corp. ("Bridge") (TSX VENTURE:BUK) is pleased to announce that in response to strong market demand it is increasing the size of its previously announced equity financing. Under the terms of a revised engagement letter with the Underwriters, the Company will now issue a total of 30,440,000 Units (the "Units") at a price of $1.15 per Unit for gross proceeds of $35,006,000, including 21,744,300 Units sold pursuant to the full exercise of an option granted to the Underwriters. The Units will maintain the same terms as previously announced.

The Offering of the Units is subject to certain conditions including normal regulatory approvals, including approval of the TSX Venture Exchange. The Units are being offered by way of private placement in certain provinces of Canada as agreed between the Underwriters and Bridge and in other jurisdictions on a private placement basis pursuant to applicable exemptions from registration and prospectus requirements. Closing is anticipated to occur on or about July 10, 2008. Wellington West Capital Markets Inc. is acting as bookrunner for this financing.

Bridge will apply the net proceeds of this issue toward drilling of the North Piper oil exploration well in Central North Sea and for general corporate purposes.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The Common Shares will not and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Statements in this press release may contain forward-looking information including expectations of future operations, commerciality of any gas discovered, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

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

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