Bulldog Resources Inc.
TSX : BD

Bulldog Resources Inc.

April 04, 2006 16:17 ET

Bulldog Resources Announces Completion of $6.1 Million Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - April 4, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW

Bulldog Resources Inc. (TSX:BD) is pleased to announce that it has closed its recently announced bought deal financing resulting in the issuance of 3,378,000 common shares at a price of $1.80 per share for gross proceeds of $6.1 million. The syndicate of underwriters was led by Tristone Capital Inc. and included Canaccord Capital Corporation, Blackmont Capital Inc., Dundee Securities Corporation and Research Capital Corporation. The common shares were offered by way of private placement. Bulldog's directors, officers, employees and their family members purchased a total of $837,000 of this financing. After closing this financing, Bulldog Resources has 24,959,202 common shares and 1,875,000 performance warrants outstanding and an estimated working capital of $7.4 million. Bulldog Resources currently has no bank debt.

Bulldog Resources has also filed its 2005 annual report, amended audited financial statements and amended management's discussion and analysis for the period from incorporation on October 24, 2005 to December 31, 2005 on www.sedar.com. The amendment to the audited financial statements and management's discussion and analysis (both documents were originally filed on www.sedar.com on February 21, 2006) relates solely to the requirement to add subsequent event disclosure for the above noted bought deal financing announced on March 13, 2006.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the common shares within the United States. The common shares 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. Accordingly, the common shares may not be offered or sold in the United States or to U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable states securities laws.

Bulldog Resources Inc. is a Calgary, Alberta based oil and gas company involved in the exploration, development and production of crude oil and natural gas in Western Canada. It trades on the TSX Exchange under the symbol "BD".

Forward Looking Information

Certain information presented in this press release is of a forward looking nature. Such forward looking information involves substantial known and unknown risks and uncertainties. Most of these are beyond Bulldog's control and include: the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, the availability of qualified personnel, stock market volatility, access to sufficient capital from internal and external sources, and access to field equipment and services. The reader is cautioned that assumptions used in the preparation of such information, while considered reasonable by Bulldog at the time, may prove to be incorrect. Bulldog's actual results could differ materially from those expressed in, or implied by, such forward looking information.


Contact Information

  • Bulldog Resources Inc.
    Ken McKay
    President & CEO
    (403) 266-6902
    or
    Bulldog Resources Inc.
    Rob Kraft
    Chief Financial Officer
    (403) 266-6902
    or
    Bulldog Resources Inc.
    Suite 805, 734 - 7th Avenue S.W.
    Calgary, AB, T2P 3P8
    (403) 266-6902
    (403) 264-7470 (FAX)
    Email: info@bulldogresources.ca
    Website: www.bulldogresources.ca