 | December 10, 2009 Brett Increases Flow-Through Private Placement Financing to $5 Million | ||||
| News Release 09-19 Brett Resources Inc. (TSX Venture Exchange -- BBR) is pleased to announce that due to strong demand of the Flow Through private placement financing, the Company has agreed to increase the size of the previously announced offering (please see news release dated Dec. 9, 2009) to raise up to $5 million as a non-brokered private placement financing by the issuance of Flow-Through Shares which will be sold at a price of $2.00 per share. This financing is subject to regulatory approval and a cash finders' fee of up to 6 percent may be paid to accredited agents on that portion of the funds raised by third parties. 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 flow through proceeds raised in this offering will be used for Canadian Exploration Expense (CEE) as defined in the Income Tax Act (Canada), and will be renounced for the 2009 taxation year. It is anticipated that certain officers, directors, and insiders of the company will subscribe for a portion of the private placement. That portion of the private placement that is sold to insiders may be classified as a related-party transaction, as such term is defined in Ontario Securities Commission Rule 61-501 and TSX Venture Exchange policies. The company anticipates that it will be able to rely upon exemptions to the shareholder approval and valuation requirements imposed by Rule 61-501 and TSX Venture Exchange policies in respect of related party transactions. About Brett Resources Inc. Brett Resources Inc. is a Canadian minerals exploration company whose primary mandate is the discovery, acquisition, and development of precious metals systems, with particular expertise in Canada and Latin America. Since 2006 Brett's primary focus has been the 100 percent owned Hammond Reef Gold Deposit in Ontario where a C.I.M. Inferred Resource of 6.70 million ounces of gold, 259.4 million tonnes at a grade of 0.8 grams per tonne utilizing a 0.3 gram per tonne gold cut-off has been outlined. The Company will continue to advance this flagship Project. Patrick Soares, President & CEO Contact: Tony Perri, Manager, Investor Relations at 604-488-0008 or Raju Wani of Wani Capital at 403-240-0555 Brett Resources Inc. Suite 611 - 675 West Hastings Street, Vancouver, BC V6B 1N2 Tel: (604) 488-0008 Fax: (604) 669-2543 tperri@brettresources.com www.brettresources.com View News Release in PDF Format: | |||||
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| You can view the Next News Releases item: Mon Dec 14, 2009, Brett Receives Necessary Permits and Licences for the Reconstruction of the Sawbill North Road You can view the Previous News Releases item: Wed Dec 9, 2009, Brett Announces $3.5 Million Flow-Through Private Placement Financing You can return to the main News Releases page, or press the Back button on your browser. |
