|May 07, 2009|
Cadillac Shares to Commence Trading on TSX Venture Exchange
|Toronto, May 7, 2009 -- Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to announce that effective May 8, 2009, its common shares will begin trading on the TSX Venture Exchange (the "Exchange") on Tier 1 in the industry category of "Mining Issuer". Cadillac has 42,120,295 common shares issued and outstanding.|
Securities beneficially owned or controlled by 'Principals' (directors, senior officers, large shareholders) of Cadillac will be subject to the Exchange's Tier 1 surplus security escrow requirements and will be released from escrow as follows: 10% at the time of listing, 20% at 6 months, 30% at 12 months and 40% at 18 months after listing. A total of 15,899,312 shares, 1,825,000 options and 3,271,028 warrants beneficially owned or controlled by Principals of the Company will be subject to this surplus escrow regime.
Additionally, a further 3,259,412 shares will be subject to the Exchange's Seed Share Resale Restrictions and will be escrowed and subject to release in accordance with the Exchange's Tier 1 value security escrow regime -- 25% of these shares will be released at each of the time of listing, 6, 12 and 18 months.
The following are the current directors and officers of the Company:
Cadillac's listing application filed with the Exchange is available under Cadillac's profile at www.sedar.com.
The Company's common shares will be delisted from trading on CNSX at the close of business on May 11, 2009.
Cadillac is a development focused exploration Company which, in addition to the MATSA Huelva Joint Venture has two Canadian exploration projects, located in regions that have been historically active.
Cadillac, Quebec. The Company has commenced a long term drill program designed to identify the scope of mineralization present on the Company's property along the Cadillac break, and outline new mineralization untouched by the historic, shallow, mining operations.
The Burnt Hill Project is 51% owned by the Company and located outside of Fredericton, New Brunswick. This operation was previously productive with a small scale pilot plant operating onsite recovering tungsten via photometric sorting. In recent drill campaigns the Company has received assay results demonstrating the previously disregarded presence of molybdenum and tin on the property. The objective of the drilling programs is the delineation of a 43-101 compliant reserve and resource, focusing in some part on the areas of historic production, in addition to the mineralization newly demonstrated at depth and along strike. The Company has also added significantly to the land position of this project, encompassing several other surface showings of tungsten, tin and molybdenum.
For more information regarding Cadillac, please visit our website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer at 416-203-7722.
Forward Looking Statements
This news release may contain certain forward-looking statements under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forwardlooking statements are frequently identified by such words as "may", "will", "plan", "expect", "believe", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary licences and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Cadillac assumes no obligation to revise or update these forward-looking statements except as required by law. All dollar amounts are in Canadian dollars unless otherwise noted.
Neither TSX Venture Exchange nor its Regulation Services Providor (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.