Sacre-Coeur Minerals, Ltd. Announces Additional Private Placement
August 28 2008 - 6:40PM
Marketwired
SACRE-COEUR MINERALS, LTD. (TSX-V: SCM) (FRANKFURT: SSN) (the
"Company") is pleased to announce a non-brokered private placement
to raise gross proceeds of up to CAD $1.55 million. Under the terms
of the private placement, the Company will offer for sale a maximum
of 1,000,000 Units (the "Units") at CAD $1.55 per Unit to a single
institutional investor.
Each Unit will consist of one Common Share of the Company and
one-half of one share purchase warrant (the "Warrants"), where each
whole Warrant will allow the subscriber to purchase one additional
Common Share of the Company at CAD $1.75 for a period of two years
from the closing date.
The Company may, in its discretion, pay a cash finders' fee of
up to 6.45% of the total gross proceeds of the offering.
The Units issued upon the closing of the private placement will
be subject to a 4-month hold period. The private placement is
subject to the acceptance of the TSX Venture Exchange.
According to Irwin Olian, CEO of the Company, "This private
placement concludes all anticipated financing for the foreseeable
future. As a result of this last placement the Company will be well
funded with a total cash on hands of CAD $9.2 million. The Company
is not contemplating doing any more private placements in the near
future. Proceeds from the private placement will be used to explore
the Company's properties located in Guyana during 2009."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and
development of properties for the potential mining of gold, metals
and diamonds in South America, initially focussing on exploration
for gold on its properties in Guyana. The Company presently has an
interest in approximately 850 square miles of mineral properties in
Guyana, including the Million Mountain Property. The Company has
offices in Vancouver, Canada and Georgetown, Guyana. More
information about the Company is available at
www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein. The statements made in this press
release may contain certain forward-looking statements that involve
a number of risks and uncertainties. Actual events or results may
differ from the Company's expectations.
Distributed by Filing Services Canada and retransmitted by
Marketwire
For further information, contact: Irwin Olian President and CEO
Email: Email Contact Phone: (604) 899-0100 Fax: (604) 899-0200 Lee
Dunston Corporate Communications Email: Email Contact Phone: (604)
899-0100 Fax: (604) 899-0200 Sacre-Coeur Minerals, Ltd. Suite 1925,
Box 11553 650 West Georgia Street Vancouver, BC V6B 4N8