Sacre-Coeur Minerals, Ltd. Closes $1.550 Million Private Placement
August 29 2008 - 4:06PM
Marketwired
Sacre-Coeur Minerals, Ltd. (TSX-V: SCM) (FRANKFURT: SSN) (the
"Company") is pleased to announce the closing of its previously
announced non-brokered private placement which has now raised gross
proceeds of CAD $1,550,000. Under the terms of the private
placement, the Company has issued 1,000,000 Units (the "Units") at
CAD $1.55 per Unit to one single institutional investor.
Each Unit consists of one common share of the Company and
one-half of one share purchase warrant (the "Warrants"). Each whole
Warrant entitles the subscriber to purchase one additional common
share of the Company at an exercise price of CAD $1.75 until August
29, 2010. The Units are subject to a 4-month hold period expiring
December 30, 2008.
The Company has paid cash finders' fees of CAD $100,000,
representing 6.45% of the aggregate proceeds of the offering.
According to Irwin Olian, CEO of the Company, "We are gratified
for the continued support of our strong investor base, even in this
rather difficult financial environment. These additional funds will
now ensure that we will be able to carry out all of our anticipate
exploration programs for the next 18 months on our portfolio."
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, B.C. V6B 4N8
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