SACRE-COEUR MINERALS CLOSES SECOND AND FINAL TRANCHEOF BROKERED OFFERING
October 19 2012 - 1:30PM
Business Wire
SACRE-COEUR MINERALS, LTD. (the “Company”) is pleased to
announce the closing of the second and final tranche of a brokered
offering through Canaccord Genuity Corp. (the “Agent”) originally
announced on September 5, 2012. Under the terms of the offering,
the Company has today issued 1,214,819 units (the “Units”) at $0.12
per Unit for gross proceeds of $145,778. The Company has issued an
aggregate of 6,701,819 Units (including an oversubscription for
451,819 Units) for total gross proceeds of $804,218 in this
brokered offering. The total gross proceeds raised include gross
proceeds raised pursuant to the full exercise of the over-allotment
option granted to the Agent.
Each Unit consists of one common share of the Company and
one-half of one share purchase warrant (each whole such warrant, a
“Warrant”). Each whole Warrant entitles the holder to purchase one
additional common share of the Company at an exercise price of
$0.18 until October 19, 2014.
With respect to the second and final tranche of the brokered
offering, the Company paid the Agent a cash fee of $8,654.27, and
issued 121,300 warrants to the Agent (the “Agent’s Warrants”). Each
Agent’s Warrant entitles the holder to purchase one common share of
the Company at an exercise price of $0.12 until October 19, 2014.
In addition, the Company issued 48,520 Units as a corporate finance
fee to the Agent.
The Units and the Agent’s Warrants are subject to a 4-month hold
period in Canada expiring on February 20, 2013.
Proceeds from the private placement will be utilized for working
capital for general corporate purposes.
About Sacre-Coeur
The Company is engaged in the acquisition, exploration,
development, and production of properties for gold, metals and
diamonds in South America, initially focussing on exploration and
production of gold from its properties in Guyana. The Company
presently holds 100% interest in approximately 850 sq. km of
mineral properties in Guyana, including the Million Mountain
Property which hosts an NI 43-101 compliant hard-rock resource of
12,119,285 tonnes grading 1.0 g/t Au Measured, and 2,175,278 tonnes
grading 0.9 g/t Au Indicated for a total 451,000 tr oz Au combined.
The Company has offices in Vancouver, Canada and Georgetown,
Guyana. More information about the Company is available at .
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
“Gregory B. Sparks”
Gregory B. Sparks, P. Eng.
President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain “forward-looking statements”
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 or “forward-looking information”
within the meaning of applicable Canadian securities laws, which we
will refer to as “forward-looking information”. Often, but not
always, forward-looking information can be identified by the use of
words such as “plans”, “expects”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“believes” or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking information includes, but is not limited
to, statements pertaining to development activities, commissioning
of environmental studies, application for necessary permits for
production operations, metallurgical studies, commissioning of a
third party feasibility study, arrangement of financing for
development, formal production decisions, business
combinations.
We can give no assurance that the forward-looking information
will prove to be accurate. Forward-looking information by its
nature is based on assumptions and involves known and unknown
risks, uncertainties and other factors, including those discussed
in the Company’s quarterly and annual management discussion and
analysis, which are available at www.sedar.com under the Company’s
profile, any of which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking information. The forward-looking information
is based on a number of assumptions that management believes are
reasonable, including but not limited to assumptions about: the
price of gold; the financial condition of the Company; anticipated
costs and expenditures; estimated production; mineral resources or
reserves; and metallurgical recoveries; general business
conditions; and the ability to achieve our goals. The
forward-looking information is also subject to certain risks,
uncertainties and other factors associated with our business,
including but not limited to: gold price volatility; risks of not
meeting production and cost targets; discrepancies between actual
and estimated production; mineral reserves and resources and
metallurgical recoveries; mining operational and development risk;
litigation risks; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign
investment and operating in foreign countries; currency
fluctuations; speculative nature of gold exploration; global
economic climate; dilution; share price volatility; competition;
loss of key employees; additional funding requirements; and
defective title to mineral claims or property, as well as those
factors discussed in the Company’s quarterly and annual management
discussion and analysis. Should underlying assumptions prove
incorrect, or should one or more of the risks, uncertainties or
other factors materialize, actual results may vary materially from
those expressed or implied in the forward-looking information.
Forward-looking information is designed to help you understand
management’s current views of our near and longer term prospects,
and it may not be appropriate for other purposes. Forward-looking
information is based on the reasonable beliefs, estimates and
opinions of management at the date the statements are made and is
subject to change without notice. These factors should be carefully
considered and viewers are cautioned not to place undue reliance on
forward-looking information, which speaks only as of the date of
this news release. We will not necessarily update this information
unless we are required to by applicable securities laws.
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