CDC Cadillac Ventures Inc

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") announces
that it intends to complete a private placement financing of units ("Units") and
flow-through units ("Flow-Through Units") for aggregate gross proceeds of up to
$3.75 million. Each Unit will be issued at $0.22 and will consist of one common
share and one-half of one warrant. Each Flow-Through Unit will be issued at
$0.25 and will consist of one "flow-through" common share and one-half of one
warrant. Each whole warrant (a "Warrant") will be exercisable for 24 months for
one common share at $0.35. The proceeds from the financing will principally be
used for exploration expenditures in respect of Cadillac's work projects and for
general working capital purposes.


Cadillac may pay a finder's fee to registrants consisting of an 8% cash
commission and 8% compensation options, with each compensation option entitling
the holder to purchase one common share at a price of $0.35 for one year.


All securities issued under the offering will be subject to a four-month
statutory hold period.


This private placement remains subject to applicable regulatory approval.

Cadillac anticipates that Trafigura Beheer, B.V. ("Trafigura"), an existing
shareholder of the Company, will be subscribing for up to approximately 25% of
the private placement. Pursuant to Multilateral Instrument 61-101 - Protection
of Minority Security Holders in Special Transactions ("MI 61-101"), the
financing constitutes a "related party transaction" as a result of Trafigura's
participation. Trafigura currently holds 15,760,806 shares of Cadillac
representing approximately 25% of Cadillac's issued and outstanding common
shares. The Company is exempt from obtaining both a formal valuation and
minority shareholder approval in connection with the financing because neither
the fair market value of the common shares and warrants to be issued to
Trafigura under the financing, nor the consideration for such securities,
exceeds 25% of the Company's market capitalization as calculated in accordance
with MI 61-101.


The financing is expected to close in June, 2010.

About Cadillac

Cadillac is a development-focused exploration Company which has the
past-producing Thierry Property near Pickle Lake in Northern Ontario, several
exploration projects in Spain in joint venture with MATSA and three Canadian
exploration projects, located in regions that have been historically active.


The Thierry Property encompasses the past producing Thierry Mine which ceased
production in 1982 leaving mineralization in situ. In addition to the Thierry
mine project the Company wholly owns the 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. 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. The Burnt Hill Project is a 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 productive gold mines near Pickle Lake, and the Kirkland Gold
project, located about 15 kilometres west of the town of Kirkland Lake.


For more information regarding Cadillac, please visit our website at
www.cadillacventures.com. 


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.

Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jun 2024 to Jul 2024

Cadillac Ventures (TSXV:CDC)
Historical Stock Chart
From Jul 2023 to Jul 2024