Bird River to close financing, issue shares for debt

Executive Summary

• Bird River Resources Inc. is completing the final tranche of its non‑brokered private placement, targeting up to $139,253 in gross proceeds at $0.08 per share.
• The company will settle a US$250,000 (CAD $350,108) lease‑related debt by issuing 3,890,088 common shares to the creditor at an implied price of $0.09 per share.
• Net proceeds from both transactions are earmarked for general corporate and working capital purposes; all issued shares will be subject to a statutory hold period of four months plus one day.

Key Details

• Private Placement (Final Tranche)
• Aggregate gross proceeds: up to $139,253 USD.
• Offering price: $0.08 per common share.
• Shares issued will be subject to a statutory hold period of four months and one day under CSE rules.

• Use of net proceeds: general corporate and working capital purposes.

• Debt Settlement Agreement

• Debt amount: US$250,000 (approximately CAD $350,108 based on $1.40 CAD/USD).
• Settlement method: issuance of 3,890,088 common shares to the creditor.
• Implied share price for debt settlement: $0.09 per debt share.
• Shares issued for debt settlement also subject to a four‑month‑plus‑one‑day hold period.

• Settlement contingent upon receipt of required regulatory approvals, including CSE approval.

• Regulatory & Transaction Conditions

• Both the private placement and debt settlement are non‑brokered and rely on standard securities law exemptions.
• Completion is subject to customary closing conditions and regulatory clearances.

Notable Quotes

(No executive quotes were provided in the release.)