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Bard Ventures Ltd. | Northern BC Business
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Bard Ventures Ltd.

December 19, 2011
Bard Ventures Ltd. – Closes 1st Tranche Of Financing

Vancouver, BC, Canada — Bard Ventures Ltd. (“Bard” or the “Company“) is pleased to announce that on December 15, 2011 it closed the first tranche of the non-brokered private placement for 1,496,667 flow-through units at $0.06 per unit (the “FT Units“) and 1,950,000 non-flow-through units at $0.05 per unit (the “NFT Units“) (previously announced by news release dated November 7, 2011), for gross proceeds to the Company of $187,300.  Each FT Unit is comprised of one (1) flow-through common share and one-half (1/2) of one (1) transferable common share purchase warrant.  Each whole common share purchase warrant (a “Warrant“) entitles the holder thereof to acquire one (1) additional common share in the Company at a per share price of $0.10 on or before December 15, 2013.  Each NFT Unit is comprised of one (1) common share and one (1) Warrant.

Bard paid a Finder’s fee of $1,760, which is equal to 8% of the gross proceeds procured by the Finder.  In addition, the Finder received 32,000 warrants, which is equal to 8% of the FT Units and NFT Units procured by the Finder.

As subscribers to the private placement, Eugene Beukman and Robert Pryde, directors of Bard, acquired directly an aggregate of 1,000,000 NFT Units.  No commission was paid on the insiders’ purchase.

The issued securities are subject to a four (4) month hold period which expires on April 16, 2012.

Gross proceeds raised from the sale of the FT-Units will be used for general exploration expenditures, which will constitute Canadian exploration expenses (as defined in the Income Tax Act).  Gross proceeds raised from the sale of the NFT-Units will be used for general corporate purposes.

On behalf of:

Bard Ventures Ltd.

“Eugene Beukman”

Eugene Beukman, President

For further information please visit our website at www.bardventures.com

This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward‑looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions.  Please see our public filings at www.sedar.com for further information.

Article source: http://www.bardventures.com/s/NewsReleases.asp?ReportID=497605

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