|April 28, 2010|
Cadillac Retains Investor Relations Consultant and Appoints Secretary
|Toronto, April 28, 2010 - Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac" or the "Company") is pleased to announce that it has entered into an agreement with Investor Cubed Inc. ("ICI") under which ICI will provide general consulting, investor relations and marketing services to Cadillac.|
The agreement between Cadillac and ICI is effective from April 27, 2010 for an initial one year term, after which it will automatically renew for an additional year unless otherwise terminated. In consideration for the services to be provided, Cadillac has agreed to pay ICI a monthly fee of $5,000, plus pre-approved expenses, from existing working capital. In addition, Cadillac has agreed to grant 780,000 stock options (the "Stock Options") to ICI to acquire up to an aggregate of 780,000 common shares of Cadillac. 195,000 Stock Options will vest after three months from the date of issue and will be exercisable for $0.23 per common share. The remaining 585,000 Stock Options will be exercisable for $0.45 per common share and will vest in equal tranches after six, nine and twelve months from the date of issue, respectively. The Stock Options will expire two years from the date of issue.
ICI currently has no interest, directly or indirectly, in Cadillac or its securities, or any right or intent to acquire such an interest otherwise than pursuant to the exercise of the Stock Options. [NTD: To be confirmed]
ICI's appointment as an investor relations consultant of Cadillac and the granting of the Stock Options remain subject to TSX Venture Exchange and other applicable regulatory approval.
Cadillac is also pleased to announce that John Conway has been re-appointed as secretary of Cadillac.
Cadillac is a development-focused exploration Company which has the past-producing Thierry Property near Pickle Lake in Northern Ontario, three Canadian exploration projects, located in regions that have been historically active, and several exploration projects in Spain.
In addition to the Thierry mine project Cadillac wholly owns New Alger project, a previously productive gold mine, located outside of Cadillac, Quebec, where the Company has entered into a joint venture agreement with Renforth Resources Inc. for a three year $2.5 million exploration program. The Burnt Hill Project is 51% owned tungsten tin project located outside of Fredericton, New Brunswick. The Company also holds the Pickle Gold project comprised of 21 claims in the vicinity of 3 historically proactive gold mines near Pickle Lake, and the Kirkland Gold project, located about 15 kilometres west of the town of Kirkland Lake. In Spain, the Company is joint venture partner with Minas de Aguas Tenidas, S.A.U. regarding the exploration of 12 different investigation licenses surrounding the Aguas Tenidas Mine in the Iberian Pyrite Belt of southern Spain.
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. Forward-looking 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 Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.