THIS DOCUMENT IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.
CALGARY, Feb. 22 /CNW/ - BNP Resources Inc. ("BNP" or the "Corporation")
would like to announce that it has completed a share for debt deal with
one (1) ("Creditor") totaling approximately $59,853.00. The debt
obligation relates to a private investor electing to convert his Jensen
royalty on BNP interest lands in this area to shares. Under the shares
for debt settlement BNP will issue approximately 598,532 Class "A"
shares to the creditor at a price of $0.10 per Class "A" share. The
settlement constitutes full satisfaction of the $59,853.00 debt
obligation that is owed by BNP to the Creditor. Upon issuance of the
Class "A" shares to the creditor, the debt owed the creditor and
obligations of BNP related to the debt deal will be fully extinguished.
The above agreement has received final approval of the TSX-Venture
Exchange and the share certificate has been issued.
BNP is actively engaged in the exploration for and the development and
production of oil and natural gas reserves. BNP's business strategy is
to build sustainable and profitable per share growth through internally
generated exploration and development drilling.
BNP has approximately 30,022,711 Class A shares and 922,500 Class B
shares issued and outstanding which trade on the TSX Venture Exchange
under the symbols "BNX.A and "BNX.B".
Neither the TSX Venture Exchange nor Its Regulation Services Provider
(as the term Is defined In the Policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE BNP Resources Inc.
For further information:
Gregory Bilcox, President and CEO
BNP Resources Inc.