Bird River Announces Closing of Final Tranche of Common Share Financing and Shares for Debt Transaction

Executive Summary

• Bird River Resources Inc. closed a final tranche of its non‑brokered private placement, issuing 1,592,037 common shares at $0.08 each for gross proceeds of $127,362.96 CAD.
• Combined with four previously completed tranches, total private‑placement proceeds now equal $2,515,109.52 CAD.
• The company also settled a USD 250,000 (CAD 350,108) lease‑related debt by issuing 3,890,088 “Debt Shares” at a deemed price of CAD 0.09 per share to an arm’s‑length creditor.

Key Details

• Offering Structure: Non‑brokered private placement of common shares; no finders’ fees or commissions paid.
• Share Count & Price: 1,592,037 Common Shares @ $0.08 CAD per share.
• Gross Proceeds (Final Tranche): $127,362.96 CAD.
• Cumulative Private‑Placement Proceeds: $2,515,109.52 CAD (including four earlier tranches).
• Use of Proceeds: General corporate and working capital requirements.
• Debt Settlement: 3,890,088 Debt Shares issued at a deemed price of CAD 0.09 per share to creditor for settlement of USD 250,000 (≈ CAD 350,108) lease‑payment debt.
• Resale Restrictions: Both the Offering shares and Debt Shares subject to a hold period of four months and one day from issuance under Canadian securities law.
• Regulatory Notice: Securities not registered in the United States; cannot be offered or sold there unless an exemption applies.

Notable Quotes

• “The proceeds from this financing will support our ongoing corporate initiatives and strengthen our balance sheet as we continue to advance our exploration portfolio,” – Jon Bridgman, CEO & Director.