BRS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
VANCOUVER, BC – July 10, 2017 – BRS RESOURCES LTD. (the “Company”) (TSX.V: BRS) is pleased to announce that, subject to regulatory approval, it has arranged a non-brokered private placement financing (the “Offering”) of up to 6,000,000 units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of $300,000. Each Unit consists of one common share of the Company (each, a “Share”) and one share purchase warrant (each, a “Warrant”). One Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.10 per Share for a period of three years from closing.
Closing of the Offering remains subject to final acceptance of the TSX Venture Exchange. The Company may pay finder’s fees in connection with the issuance of the Units under the Offering.
The Shares, the Warrants and the Shares issuable on exercise of the Warrants will be subject to a statutory hold period expiring on the date that is four months and one day after closing of the Offering. The Offering may be considered a related party transaction pursuant to applicable securities laws due to the fact that certain insiders of the Company may participate in the Offering.
The proceeds of the Financing will be used for working capital.
None of the securities issued in connection with the financing will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
ABOUT BRS RESOURCES
BRS Resources Ltd. is listed on the TSX Venture Exchange under the symbol BRS. The Company is an independent international oil and gas company focused on the development and production of oil and natural gas reserves. It holds a minority interest in AleAnna Energy LLC, which owns 100% of AleAnna Resources LLC.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.