BNP Resources Inc. announces non-brokered private placement



    CALGARY, June 12 /CNW/ - BNP Resources Inc. ("BNP") is pleased to
announce an offering of up to 10,000,000 units ("Units") on a private
placement basis at a price of $0.10 per Unit, for an aggregate gross proceeds
of up to $1,000,000 (the "Offering"). Each Unit shall consist of one Class A
share of BNP ("Class A Share") and one-half of one Class A Share purchase
warrant ("Warrant"), each whole Warrant entitling the holder to acquire one
Class A Share at an exercise price of $0.10 for a period of six months from
the closing date of the Offering.
    The Offering is scheduled to close on or about June 30, 2009 and is
subject to receipt of all necessary regulatory and stock exchange approvals.
The Class A Shares issued upon closing of the Offering will be subject to a 4
month hold period from the date of issue.
    Proceeds from the Offering will be used to reduce bank indebtedness,
satisfy outstanding payables and to further fund BNP's operations.
    BNP currently has 20,625,834 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 respectively.

    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.

    This press release may contain forward-looking statements within the
meaning of applicable securities laws. Forward-looking statements may include
estimates, plans, anticipations, expectations, opinions, forecasts,
projections, guidance or other similar statements that are not statements of
fact. Although BNP believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to be correct. These statements are subject to certain
risks and uncertainties and may be based on assumptions that could cause
actual results to differ materially from those anticipated or implied in the
forward-looking statements. These risks include, but are not limited to: the
risks associated with the oil and gas industry (e.g. operational risks in
development, exploration and production; delays or changes in plans with
respect to exploration or development projects or capital expenditures; the
uncertainty of reserve estimates; the uncertainty of estimates and projections
relating to production, costs and expenses and health, safety and
environmental risks), commodity price and exchange rate fluctuation and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. BNP's
forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The forward-looking statements contained in this press
release are made as of the date hereof and BNP undertakes no obligations to
update publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise, unless so
required by applicable securities laws.

    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.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The Class
A Shares have not and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold in the United States except in
certain transactions exempt from the registration requirements of the U.S.
Securities Act and applicable states securities laws.

For further information:

For further information: Gregory Bilcox, President and CEO, BNP
Resources Inc., Phone: (403) 695-1091, Fax: (403) 265-0413

Organization Profile

BNP Resources Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890