 | | | Publié le 04 juin 2008 | Announces $9,000,000 Financing |
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| News Release |
Tuesday, June 03, 2008 |
Not for dissemination in the United States or through U.S. newswires
Brett Resources Inc. Announces $9,000,000 Financing
News Release 08-11
Brett Resources Inc. (the "Company")(TSX Venture Exchange -- BBR) is pleased to announce that subject to regulatory approval, it has negotiated a brokered private placement with Canaccord Capital Corporation (the "Agent") for the sale of up to 2,500,000 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 up to $6,000,000 (the "Offering"). Each Unit will be 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. In addition, the Company also announces that it will complete a non-brokered private placement of up to $3,000,000 comprising of 1,250,000 Units and 2,105,263 Flow-Through Common Shares under the same terms as above.
As consideration to the Agent, Brett has agreed to pay a commission of 7.0% of the total proceeds raised upon closing and issue 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 of 100,000 Units will also be paid to the Agent. With respect to the non-brokered portion of the private placement, Brett may pay a finders fee of 7.0%. The shares issued under this financing will be subject to a hold period of four months plus one day from the date of closing of the offering.
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"
Patrick Soares, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
Contact:
Patrick Soares, President
or
Tony Perri, Manager, Investor Relations
Brett Resources Inc.
Suite 611 - 675 Hastings Street
Vancouver, BC V6B 1N2
Tel: (604) 488-0008
Fax: (604) 669-2543
tperri@brettresources.com
www.brettresources.com |
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