|March 01, 2013|
Cadillac Announces $1.2 Million Private Placement
TORONTO, ONTARIO -(Marketwire - March 1, 2013)
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Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") is very pleased to announce that it has received a subscription agreement from Sino-Canada Natural Resources Fund I ("Sino-Canada") to make an equity investment of $1.2 million in Cadillac. Under the terms of the agreement, Sino-Canada has subscribed for 20,000,000 units ("Units") of the Company at a price of $0.06 per Unit. Each Unit will consist of one common share of Cadillac and one common share purchase warrant, exercisable for 30 months following closing for an additional common share at $0.10.
On closing, Sino-Canada will own approximately 12.1% of Cadillac's issued and outstanding common shares (approximately 21.7% assuming full exercise of its warrants) and will become an "insider" of Cadillac. Accordingly, closing of this private placement is subject to acceptance of the TSX Venture Exchange.
Sino-Canada will have the right to nominate one director to the board of directors of Cadillac, and such right will continue for so long as Sino-Canada owns greater than 7% of Cadillac's issued and outstanding common shares.
Cadillac intends to use the proceeds from the private placement for expenditures on its Canadian exploration properties and for general working capital purposes.
Cadillac is a development-focused copper company currently advancing its 100% owned Thierry Property, near Pickle Lake, Ontario. The Thierry Property consists of the past producing Thierry Mine and hosts two NI 43-101 compliant resources: Thierry Mine and K1-1.
In addition, Cadillac also holds a 51% interest in the Burnt Hill Project, a historic tungsten/tin mine taken to test production by Mr. Norman Brewster P.Geo for Canadian International Paper during the early 1980's. Cadillac looks forward to resuming the development of this project.
Sino-Canada is a Cayman Islands registered private equity fund focused on investments in Canadian listed and private companies that develop and operate natural resource projects (mining, oil & gas, forestry) worldwide. Sino-Canada is managed in Hong Kong on behalf of private investors from China.
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.
Cadillac Ventures Inc.
President and Chief Executive Officer