Bakken Resources (fka BKKN)

[roger wilco]

Bakken Resources, Inc. Announces Entry into Term Sheet Financing

http://finance.yahoo.com/news/bakken-resources-inc-announces-entry-210200904.html

Bakken Resources, Inc. (OTCQX: BKKN) (“Bakken,” “BRI,” “us,” “we,” or the “Company”) announces its entry into a term sheet with Eagle Private Equity (“Eagle”), a New York-based private equity firm, for debt and equity financing (the “Term Sheet”). The Term Sheet provides for an immediate $1 million credit line to be provided by Eagle, along with a subsequent debt or equity financing of up to $10 million. Proceeds from the loans and other financing will be intended for the acquisition of mineral assets. Loans made to the Company based on the initial $1 million credit line may be converted into a newly-created class of the Company’s preferred stock.

Dan Anderson, the Company’s Chief Financial Officer, states, “We are extremely pleased to announce this potential financing and believe it can be the catalyst for future growth. We expect an imminent closing. We look forward to taking the Company in a positive direction that we believe will further benefit our shareholders.”

Carl George, principal of Eagle Private Equity, added, “We are very happy to provide BRI with initial financing. We are impressed with the quality of current management and look forward to working with management to secure additional acquisition financing.”

ABOUT BAKKEN RESOURCES, INC.

BAKKEN RESOURCES, INC. is an oil and gas exploration and development company with activities currently focused on the acquisition of mineral leases and non-operating oil and gas interests.

ABOUT EAGLE PRIVATE EQUITY, LLC

EAGLE PRIVATE EQUITY is an early-stage investment firm focused primarily on opportunities in technology, energy, sports, entertainment, and healthcare. Eagle’s investment model differs from that of traditional private equity and venture capital firms, allowing Eagle to work closely with entrepreneurs to build promising companies. For roughly twenty years, Eagle has positioned its principals as founders of, and itself a significant equity partner to, emerging companies in Eagle’s investment portfolio.