CMP Gold Trust Invests in Cadiscor Resources
13 Marzo 2008 - 1:00PM
Marketwired
MONTREAL, QUEBEC (TSX VENTURE: CAO)(FRANKFURT: DQN)is pleased to
announce that CMP Gold Trust (TSX: CMP.UN) was the subscriber of
the $3,000,000 private placement announced by Cadiscor on March 3,
2008. CMP Gold Trust has acquired 5,454,545 units ("Unit") of
Cadiscor at a price of $0.55 per Unit. Each Unit is comprised of
one common share of Cadiscor and one half of one warrant. Each full
warrant entitles the holder to purchase one Cadiscor common share
at a price of $0.70 for a period of 24 months after February 29,
2008, the closing date of the financing. With this investment, CMP
Gold Trust has an initial position of approximately 14 % of the
total issued shares of Cadiscor. Cadiscor has also agreed to grant
to CMP Gold Trust a pre-emption right to subscribe, on a prorata
basis of its holding, in any future financing of Cadiscor. If the
warrants were to be exercised now, CMP Gold Trust's position would
reach 19.6% of the projected issued shares of Cadiscor. The Unit
shares and warrants will be subject to a hold period of four months
and one day after the closing date.
CMP Gold Trust is a closed-end investment trust managed by
Goodman & Company, Investment Counsel Ltd. The Trust Units are
listed on the TSX under CMP.UN. The Trust's investment objective is
to provide holder's of Trust Units with inflation protection,
capital preservation and long-term capital appreciation through
investment in a portfolio consisting of Precious Metals and the
securities of Precious Metals issuers, Minerals Issuers and
Minerals Related Issuers.
In addition, Goodman & Company, Investment Counsel Ltd., on
behalf of one or more mutual funds or client accounts managed by it
exercises control or direction over 1,600,000 common shares
representing approximately 4.1% of Cadiscor. In aggregate, these
positions represent an approximate 18.07% interest, on an undiluted
basis, or assuming the conversion of the purchase warrants into
common shares, an approximate 23.43% interest, on a partially
diluted basis.
At the date hereof, Cadiscor has 39,029,545 common shares
issued. Cadiscor is pleased to have CMP GOLD TRUST as an important
shareholder. The financing proceeds will be used to fund further
exploration work on the Sleeping Giant Mine, Discovery, Flordin,
Florence and Cameron Shear properties, for working capital and
general corporate purposes.
Forward-Looking Statements
This press release contains forward-looking statements subject
to certain risks and uncertainties. There can be no assurance that
these statements will prove to be correct, and actual results and
future events could differ materially from those implied by such
statements. These risks and uncertainties are discussed in the
annual report filed with the securities commissions of Alberta,
British Columbia, Ontario and Quebec, and in the 10-KSB annual
report filed with the US Securities and Exchange Commission. The
Company does not undertake to publicly revise or update any such
statements on the basis of new Information, future events or any
other event.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Cadiscor Resources Inc. Michel Bouchard, President
450-641-0775 mbouchard@bbhgm.com www.cadiscor.com
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