TORONTO, ONTARIO--(Marketwire - Dec. 17, 2012) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (News - Market indicators) is pleased to announce the closing of a non-brokered private placement of $844,200 (the "Financing"). The Company has issued 12,600,000 units ("Units") at $0.05 per Unit for proceeds of $630,000 and 3,060,000 common shares were issued on a flow-through basis at $0.07 per share for proceeds of $214,200. Each Unit consists of one common share and one half of one common share purchase warrant (a "Warrant"). Each Warrant is exercisable at $0.125 per share expiring December 14, 2014.
The Financing is subject to final approval from the TSX Venture Exchange. All common shares issued will be subject to a four-month hold period ending April 14, 2013. The proceeds of the financing will be used to fund the Company's ongoing exploration programs in the province of Manitoba and general working capital.
The Company also announces that Mr. Borys Chabursky has resigned from the Board of Directors of the Company. Amir Mousavi, CEO added, "We thank Mr. Borys Chabursky for his contributions during his tenure as a member of the Company's Board of Directors and we look forward to working with him in an advisory capacity in the future."
About Bison Gold
Bison Gold is a Canadian public company listed on the TSX Venture Exchange. Bison Gold is focused on gold, base metal and rare element exploration with property assets in Manitoba, Canada. Bison Gold's land holdings have historically produced in excess of 200,000 ounces of gold. Further details can be found on Bison Gold's website at www.bisongold.com.