|April 30, 2008|
Cadillac Closes $2.7 Million Private Placement
|TORONTO, ONTARIO - (April 30, 2008) - Cadillac Ventures Inc. (CDEX-CNQ) ("Cadillac") is pleased to announce that it has closed a non-brokered private placement financing for gross proceeds of $2.7 million. Trafigura Beheer B.V. Amsterdam ("Trafigura") was the sole subscriber under the financing and was issued 4,218,750 common shares of Cadillac at $0.64 per share. Following closing, Trafigura holds approximately 14.9% of the issued and outstanding shares of Cadillac.|
Norman Brewster, the President and Chief Executive Officer of Cadillac said "Cadillac is pleased to welcome Trafigura as a supportive, significant shareholder."
The proceeds from this financing will be used for exploration expenditures and general working capital purposes. The securities issued hereunder will be subject to restrictions on resale for four months. The issuance of these securities is subject to typical regulatory approvals.
Cadillac is publicly traded on the CNQ under the symbol CDEX. The New Alger Project is wholly owned by Cadillac and located in the "Cadillac Break" mining camp near Val D'or, Quebec. In the past New Alger was a historically productive gold mine, Cadillac has completed one season of exploration drilling on the property designed to test the extent of the known mineralization. In addition to this Cadillac is the 51% owner of, and operator of the joint venture on, the Burnt Hill Project located outside of Boiestown, New Brunswick. This property was intermittently productive historically for tungsten, during the last exploration season Cadillac also found molybdenum mineralization to be present on the property.
For more information regarding Cadillac please visit our website at www.cadillacventures.com, or call Norman Brewster, President at 416-815-8666.
Forward Looking Statements
This press release may include certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are in Canadian dollars unless otherwise noted.
The CNQ does not accept responsibility for the adequacy or accuracy of this release.