Star Metro - Bird River Announces Closing Of Financing For Gross Proceeds Of Approximately $410,000

WINNIPEG, MB / ACCESS Newswire / February 3, 2025 / Bird River Resources Inc. (the "Company") (CSE:BDR) announces that it has closed its previously announced non-brokered best efforts private placement financing (the "Offering") of common shares in the capital of the Company (the "Common Shares") for aggregate gross proceeds of approximately $410,955.

All currency references in the news release are in Canadian currency unless otherwise noted.

The Offering consisted of the issuance of 10,273,881 Common Shares at a price of $0.04 per Common Share. The Offering is being completed in connection with the Company's previously announced transaction with a private corporation existing under the laws of the State of Delaware (the "Shareholder"), and a wholly-owned subsidiary of the Shareholder existing under the laws of Mexico ("Mexico HoldCo"), pursuant to which the Company will acquire a 100% interest in two gold projects located in the Sinaloa region through the acquisition of a 100% of the issued and outstanding shares of Mexico HoldCo (the "Proposed Transaction").

No finders fees or commissions were paid in connection with the Offering.

The gross proceeds of the Offering will be used to fund: (i) the expenses of the Proposed Transaction and the anticipated exploration and development of the acquired mineral property interests, and (ii) working capital requirements of the Company following completion of the Proposed Transaction.

The Common Shares were issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws. The securities issued pursuant to the Offering are subject to resale restrictions, including a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

For further details with respect to the Proposed Transaction, refer to the Company's press release dated January 20, 2025, available on the Company's SEDAR+ profile at www.sedarplus.ca.

The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Bird River

Established in 1958, Bird River is a Winnipeg, Manitoba based diversified resource company which currently holds a net royalty smelter interest in a platinum palladium property in the Bird River Sill area of northeastern Manitoba near the Ontario border. Management and the Board of Directors are currently focused on the renewable power sector and the resource industry. Additional information regarding the Company is available at www.sedarplus.ca.

For further information, please contact:

Jon Bridgman, CEO & Director
Bird River Resources Inc.
Tel: 1-877-587-0777
Email: [email protected]

Cautionary Note Regarding Forward Looking Statements

This news release contains certain "forward-looking statements" within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be considered forward-looking statements.

Examples of forward-looking statements in this news release include, amongst others, the completion of the Proposed Transaction and the anticipated use of the proceeds from the Offering. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither the CSE nor its market regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Bird River Resources Inc.

View the original press release on ACCESS Newswire

P.Lefebvre--SMC