Buffalo Closes First Tranche of Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 12/10/07 -- Further
to its news release of December 4, 2007, Buffalo Gold Ltd. (TSX
VENTURE: BUF)(OTCBB: BYBUF)(FRANKFURT: B4K) is pleased to report that
it has closed the first tranche of the non-brokered private placement
of 18,888,890 units. Pursuant to the first closing, Buffalo issued
8,670,000 units to generate gross proceeds of $3,900,000. Each unit
consists of one share and one half share purchase warrant, every
whole warrant entitling the purchase of one additional share of
Buffalo at $0.75 per share until December 6, 2009.
All securities issued pursuing to this closing are subject to a
four-month hold period expiring April 6, 2008.
Buffalo also reports that it has, subject to regulatory approval,
granted incentive stock options entitling the purchase of up to
500,000 shares at a price of $0.53 per share until December 10, 2012.
Buffalo has also cancelled stock options entitling the purchase of
500,000 until September 25, 2011.
To find out more about Buffalo Gold Ltd. (TSX VENTURE: BUF), please
visit the company website at www.buffalogold.ca.
On behalf of the Board of Directors of BUFFALO GOLD LTD.
Brian McEwen, President
FORWARD-LOOKING STATEMENTS
STATEMENTS INCLUDED HERE, WHICH ARE NOT HISTORICAL IN NATURE, ARE
FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995,
INCLUDING WITHOUT LIMITATION, STATEMENTS AS TO MANAGEMENT'S BELIEFS,
STRATEGIES, PLANS, EXPECTATIONS OR OPINIONS IN CONNECTION WITH THE
COMPANY'S PERFORMANCE, WHICH ARE BASED ON A NUMBER OF ASSUMPTIONS
CONCERNING FUTURE CONDITIONS THAT MAY ULTIMATELY PROVE TO BE
INACCURATE AND MAY DIFFER MATERIALLY FROM ACTUAL FUTURE EVENTS OR
RESULTS. READERS ARE REFERRED TO THE DOCUMENTS FILED BY THE COMPANY
WITH THE PERTINENT SECURITY EXCHANGE COMMISSIONS, SPECIFICALLY THE
MOST RECENT QUARTERLY REPORTS, ANNUAL REPORT AND MATERIAL CHANGE
REPORTS, EACH AS IT MAY BE AMENDED FROM TIME TO TIME, WHICH IDENTIFY
IMPORTANT RISK FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER FROM
THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy of this press release.
Contacts:
Buffalo Gold Ltd.
Julie Hajduk
Investor Relations
(604) 685-5492 or Toll Free: 1-888-685-5492
Email: julie@buffalogold.ca
Website: www.buffalogold.ca