CALGARY, Oct. 3 /PRNewswire-FirstCall/ -- Birch Mountain Resources Ltd., ("Birch Mountain" or the "Company"; BMD: TSX), announces that it has been unable to conclude a sale agreement or an equity financing in excess of $10 million as of today's date. Further relevant information is available in the news release of August 27, 2008.
The Company and its financial advisor, RBC Capital Markets, are working with its stakeholders to recapitalize the balance sheet to improve liquidity and continue implementing the business plan.
Forward Looking Statements: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding resources and reserves, exploration and development plans and results, anticipated capital expenditures and financing thereof, anticipated outcomes and timing of regulatory applications and approvals and the future plans and objectives of Birch Mountain are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Certain amounts in the financial statements are based on estimates using the best currently available information and assumptions of management. Important factors that could cause actual results to differ materially from Birch Mountain's expectations are disclosed elsewhere in documents that are available to the public at http://www.sedar.com/ and http://www.sec.gov/.
