We present closures for the drag and virtual mass force terms appearing in a two-fluid model for flow of a mixture consisting of uniformly sized gas bubbles dispersed in a liquid. These closures were deduced through computational experiments performed using an implicit formulation of the lattice Boltzmann method with a BGK collision model. Unlike the explicit schemes described in the literature, this implicit implementation requires iterative calculations, which, however, are local in nature. While the computational cost per time step is modestly increased, the implicit scheme dramatically expands the parameter space in multiphase flow calculations which can be simulated economically. The closure relations obtained in our study are limited to a regular array of uniformly sized bubbles and were obtained by simulating the rise behaviour of a single bubble in a periodic box. The effect of volume fraction on the rise characteristics was probed by changing the size of the box relative to that of the bubble. While spherical bubbles exhibited the expected hindered rise behaviour, highly distorted bubbles tended to rise cooperatively. The closure for the drag force, obtained in our study through computational experiments, captured both hindered and cooperative rise. A simple model for the virtual mass coefficient, applicable to both spherical and distorted bubbles, was also obtained by fitting simulation results. The virtual mass coefficient for isolated bubbles could be correlated with the aspect ratio of the bubbles.