Britannica Resources Corp.: Private Placement Announced.VANCOUVER, British Columbia -- Britannica Resources Corp. (the "Company) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BRR BRR Badan Rehabilitasi dan Rekonstruksi (Indonesian, Rehabilitation and Reconstruction Agency, Indonesia) BRR Bit Rate Reduction BRR Big Red Racing (game) )(PINK SHEETS:BRRF BRRF Baton Rouge Refinery ) has arranged a non-brokered private placement of up to 4 million non-flow-through units at a price of $0.15 per NFT NFT - Network File Transfer. An INTERLINK command on CERNVM. unit for gross proceeds of $600,000. Each NFT unit will consist of one common share and one share purchase warrant exercisable into an additional common share at a price of $0.25 for 12 months from closing of the private placement. If the closing price for the company's shares is $0.50 or greater for a period of 10 consecutive trading days, then the holders of the warrants will have 30 days to exercise their warrants, otherwise their warrants will expire. The 30-day period will commence seven calendar days after the 10th premium trading day. The company has granted a finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. equal to 7.5% of the gross proceeds to be taken in units and in the case of a registrant will include 7.5% of the placement as agent's warrants exercisable at $0.25 for a period of one year. Bolder Investment Partners, Ltd. is the registrant. The proceeds for the financing will be used for the proposed acquisition as announced in the Company's press release dated September 28, 2005 and to fund general working capital requirements. ON BEHALF OF THE BOARD Lee A. Balak, President The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this news release Britannica Resources Corp. (TSX VENTURE:BRR) (PINK SHEETS:BRRF) |
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