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") is
pleased to announce the closing of its previously announced private placement
offering of units ("Units") of the Company (see the Company's news release dated
February 8, 2013). Pursuant to the offering, 8,333,333 Units were sold at a
price of $0.06 for gross proceeds of $500,000.


Each Unit consists 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.


Urion Mining International B.V. ("Urion"), an existing shareholder of the
Company which held, directly and indirectly, approximately 24% of Cadillac's
issued and outstanding shares prior to closing, subscribed for 100% of the
offering. Pursuant to Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions ("MI 61-101"), the issuance of Units to
Urion constituted a "related party transaction". The Company was exempt from
obtaining both a formal valuation and minority shareholder approval in
connection with the private placement to Urion because neither the fair market
value of the common shares and warrants issued to Urion under the offering, nor
the consideration for such securities, exceeded 25% of the Company's market
capitalization as calculated in accordance with MI 61-101.


The Company intends to use the proceeds from the offering for general working
capital purposes. 


All securities issued under the offering are subject to a statutory hold period
in Canada expiring on June 29, 2013.


About Cadillac 

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 1980s. Cadillac looks forward
to resuming the development of this project. 


For more information regarding Cadillac, please visit the Company's website at
www.cadillacventures.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cadillac Ventures Inc.
Norman Brewster
President and Chief Executive Officer
416 203-7722
www.cadillacventures.com

Cadillac Ventures (TSXV:CDC)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Cadillac Ventures (TSXV:CDC)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024