VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 25, 2012) - RockBridge Resources Inc. ("RockBridge" or the "Company") (TSX VENTURE:RBE) is continuing with its current offering of up to $3.0 million of flow-through and non flow-through units at $0.05 each, each unit containing one common share and one share purchase warrant each exercisable to purchase one share for two years at $0.15 per share. A second tranche of the financing has now closed totalling $186,300, for which RockBridge issued 3,600,000 flow through units and 126,000 non flow-through units.. RockBridge paid commissions of $18,130 cash and issued 362,600 brokers' warrants, exercisable for one share for two years at $0.15. All of the shares issued are subject to a four-month hold period.
RockBridge has a number of presentations with brokers covering the financing set over the next few weeks and anticipates a further closing or closings following those meetings. Net proceeds from the financing will be used to fund the Company's 2012 drilling operations and for general corporate purposes. RockBridge's proposed 2012 drilling program includes participation in five (5) horizontal Cardium wells on the Company's East Pembina land block.
About RockBridge Resources Inc.
RockBridge, along with its joint venture projects with Crimson Energy Ltd., has 18% to 50% working interests in five and three quarter sections in the Pembina Cardium oil and gas field in Alberta. In addition, RockBridge has a small interest in the producing Woodrush project in BC and various interests in non-operating projects in Alberta.
ON BEHALF OF THE BOARD
ROCKBRIDGE RESOURCES INC.
Mike O'Byrne, President & CEO
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This news release may include statements about expected further events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. RockBridge cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what RockBridge currently foresees. Discussion on the various factors that may affect future results is contained in RockBridge's recent filings, available on SEDAR.
Reference to BOE means barrels of oil equivalent and is derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of gas to one barrel (bbl) of oil. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner top and does not represent a value equivalency at the wellhead. References to BOEPD means barrels of oil equivalent per day.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.