Mr. Jon Bridgman reports
BIRD RIVER ANNOUNCES CLOSING OF FINAL TRANCHE OF COMMON SHARE FINANCING AND SHARES FOR DEBT TRANSACTION
Bird River Resources Inc. has closed the final tranche of a non-brokered private placement financing of common shares in the capital of the company for aggregate gross proceeds of $127,362.96 -- together with the previously completed four tranches of the private placement, totalling $2,515,109.52 in gross proceeds. All dollar amounts in this news release are in Canadian dollars, except as otherwise noted.
The offering consisted of the issuance of 1,592,037 common shares at a price of eight cents per common share. No finders' fees or commissions were paid in connection with the offering. The gross proceeds of the offering will be used for general corporate and working capital requirements of the company.
All currency references in the news release are in Canadian currency unless otherwise noted. The common shares were issued by way of a private placement pursuant to exemptions from prospectus requirements under applicable securities laws.
Further to the previously announced share-for-debt transaction, the company has issued an aggregate of 3,890,088 common shares at a deemed price of nine cents per debt share to an arm's-length creditor, pursuant to a debt settlement agreement entered into with the creditor, related to an aggregate of $250,000 (U.S.) ($350,108 (Canadian)) owing in connection with lease payments due pursuant to a right of use agreement entered into by the company's wholly owned subsidiary, Cotton Mining & Processing S.A. de C.V.
The securities issued pursuant to the offering and the debt shares issued in connection with the debt settlement 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.
About Bird River Resources Inc.
Bird River is a Winnipeg, Man.-based resource company focused on advancing quality mineral exploration and development properties. The company 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.
(1) Based on a U.S.-dollar/Canadian-dollar exchange rate of $1.40 (Canadian) to $1 (U.S.) as of Oct. 7, 2025.
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