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BONANZA ANNOUNCES CLOSING OF DEBT SETTLEMENT
December 9, 2009
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VANCOUVER, British Columbia – December 9, 2009 – Bonanza Resources Corporation (BRS-TSX.V: BRSUF – OTC: B4G-Frankfurt) (the “Company”) is pleased to announce that the TSX Venture Exchange has accepted for filing the Company’s proposal to issue an aggregate of 13,205,602 common shares and 9,787,602 warrants at a deemed price of $0.05 per share in satisfaction of an aggregate of $660,280.10 owed by the Company to the creditors. The warrants will be exercisable at a price of $0.10 per share for a period of two years from closing.
The shares and warrants were issued on December 9, 2009 and are subject to a hold period expiring on April 10, 2010.
ON BEHALF OF THE BOARD
Byron Coulthard
President/CEO
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For further information, please contact:
Bonanza Resources Corporation
+1 604 340-4853
email: info@bonanzaresources.com
website: www.bonanzaresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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