August 5, 2015 - Vancouver, British Columbia, Canada: Bard Ventures Ltd. (the "Company" or "Bard") is pleased to announce that further to its news release dated July 13, 2015, it closed a non-brokered private placement for 10,000,000 units (the "Units") of the Company at a price of $0.03 per unit for gross proceeds of $300,000 (the "Offering").
Each unit consists of one (1) common share (the "Common Share") and one (1) transferrable share purchase warrant (the "Warrant"). Each Warrant entitles the holder thereof to purchase one (1) additional Common Share of the Company on or before August 5, 2017 at a price of $0.05 per common share.
No finder's fee was paid in connection with this private placement. The securities are subject to a four (4) month hold period that expires on December 6, 2015.
The Private Placement relied upon the TSX Venture Exchange's temporary relief measure bulletin issued December 12, 2012 and subsequently updated on April 7, 2014. Therefore, the use of proceeds will be used only for extinguishing the Company's current liabilities and for the Company's existing business and general administrative uses, the breakdown of which is as follows:
|Estimated work program on Lone Pine Property including:|
Geochemical Program and Update Preliminary Economic Assessment
|Company liabilities||$ 154,942|
|Estimated Assessment filing work on mineral claims Molybdenum project||$ 11,400|
|General and administrative expenses||$ 23,658|
On behalf of:
Bard Ventures Ltd.
Eugene Beukman, President
For further information please visit our website at www.bardventures.com.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
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