Bridgeport Ventures Inc. Announces Completion of Initial Public Offering
October 07 2009 - 3:07PM
Marketwired
Bridgeport Ventures Inc. (TSX VENTURE: BPV) ("Bridgeport") is
pleased to announce that it has completed an initial public
offering (the "Offering") pursuant to which it has issued an
aggregate of 6,000,000 units ("Units") at a price of $0.20 per Unit
to raise aggregate gross proceeds of $1,200,000, all pursuant to a
final prospectus dated September 25, 2009. Each such Unit consists
of one common share of Bridgeport and one share purchase warrant (a
"Warrant"), each such Warrant entitling the holder thereof to
acquire one additional common share of Bridgeport at an exercise
price of $0.50 until October 7, 2014. Toll Cross Securities Inc.
(the "Agent") acted as agent in the Offering, in connection with
which it received an aggregate of 420,000 compensation warrants,
each such compensation warrant entitling the Agent to acquire one
Unit at an exercise price of $0.20 per Unit until April 7, 2011.
The Agent elected to receive an aggregate of 180,000 Units in
satisfaction of $36,000 of commission to which it was entitled in
connection with the Offering, with the balance of $48,000 of such
commission payable in cash. Following the completion of the
Offering, Bridgeport has 14,225,000 common shares issued and
outstanding. Trading of the common shares and Warrants of
Bridgeport on the TSX Venture Exchange is anticipated to commence
at the opening of business on Friday, October 9, 2009. The common
shares of Bridgeport will trade under the symbol "BPV", and the
Warrants will trade under the symbol "BPV.WT".
Bridgeport is a mineral exploration company focused on the
acquisition, exploration and development of properties for the
mining of nickel and other minerals. Bridgeport currently holds a
100% interest, subject to a net smelter return royalty ranging
between 1% and 2%, in the property known as the McCart Property
comprised of five mineral claims covering an area of approximately
534 hectares located near Timmins, Ontario.
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 RELEASE.
Contacts: Bridgeport Ventures Inc. Mr. Steven Mintz President
and Chief Executive Officer (416) 864-0578
Bridgeport Ventures Inc. (Tier2) (TSXV:BPV)
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