Dec 04, 2008
C$420,000 Flow-Through Share Financing Closed With Mineralfields Group
Bitterroot Resources Ltd. (BTT, TSX-V) has closed a private placement of 3,500,000 flow-through common shares priced at C$0.12 for gross proceeds of C$420,000. The shares plus 210,000 broker warrants will be subject to a hold period expiring April 3, 2009. The shares were placed with four limited partnerships administered by MineralFields Group. The proceeds will be used to fund additional drilling on the high-grade Mineral Creek gold project in British Columbia.
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund that offers tax-advantaged super flow-through limited partnerships to investors throughout Canada and hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(r), a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar hard dollar PIPE financings) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
FORWARD LOOKING STATEMENTS: This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.