VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 1, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S.
Bryant Resources Inc. (CNSX:BYR)("Bryant" or the "Company") is pleased to announce that it has completed its previously announced non-brokered private placement of an aggregate 2,060,000 units at a price of $0.25 per unit for gross proceeds of $515,000. 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 additional common share of the Company for a period of two years from the closing date at an exercise price of $0.50 per common share.
The common shares underlying the units and any common shares acquired on exercise of the warrants will be subject to a four month hold period. The securities are also subject to a voluntary pooling agreement pursuant to which they may not be transferred for a period of a minimum of four months to a maximum of one year from the closing date.
The proceeds from the private placement will be used for general working capital and to identify and assess natural gas projects that may be suitable acquisition targets for the Company.
The Company also announces that it will be changing its corporate name from Bryant Resources Inc. to Outrider Energy Corp. effective October 4, 2013. Effective at the opening of trading on October 7, 2013, the common shares of the Company will commence trading on Canadian National Stock Exchange (CNSX) system under the new name and trading symbol "MCF"
Forward Looking Statements: This news release contains certain forward looking information concerning the business of the Company. These forward looking statements are based on the opinions of management at the date the statements are made and are based on assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward looking statements.
The Company is under no obligation to update forward looking statements if circumstances or management's opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward looking statements.
The CNSX does not accept responsibility for the adequacy or accuracy of this release.