A source close to the fight confirmed the matchup to MMA Fighting.
Amazingly, both men have the same record, 12-2 with one no contest.
Rees, who had two fights in the UFC in 2008, has won two straight bouts, while Bradley had a no contest in his last bout after an unexpected rain storm caused an early finish to an outdoor matchup.
The two men have had very similar career arcs; Rees won his first 10 pro fights before moving on to the UFC, where he lost twice. Bradley went 11-1 before getting a shot with Strikeforce, where he's gone 1-1.
Shark Fights, which airs from the Civic Center Coliseum in Amarillo, Texas, is expected to air on pay-per-view.
In the main-event, longtime UFC star Keith Jardine faces MMA veteran Trevor Prangley, while Rameau Thierry Sokdoudjou squares off with Houston Alexander in the co-main event.
Other name fighters including Paul "Semtex" Daley and Joey Villasenor are also signed for the event.