Campbell Resources closes second tranche of $3.5 million financing
June 09 2008 - 8:54AM
PR Newswire (US)
MineralFields Group purchases 8,333,333 flow-through units
MONTREAL, June 9 /PRNewswire-FirstCall/ -- Campbell Resources Inc.
(TSX: CCH, OTC Bulletin Board: CBLRF) ("Campbell") today announced
that Toronto-based MineralFields Group has purchased 8,333,333
flow-through shares of Campbell at $0.12 each for total proceeds of
$1,000,000. "We are very pleased to have this strong relationship
with MineralFields Group," said Andre Fortier, Campbell's President
and CEO. "This is an important milestone in the growth of Campbell
Resources Inc., and we look forward to working with MineralFields
Group as we develop our holdings in the Chibougamau region."
Additionally, another group of investors has purchased 4,500,000
flow-through shares for total proceeds of $540,000. This is the
second tranche of a previously announced non-brokered private
placement. With the closing of this second tranche, $3,290,000 has
been raised to date. An announcement on the final tranche of the
private placement will be made next week. Cash commissions of 6% of
the proceeds of certain subscriptions were paid to agents. All
securities issued pursuant to both private placements are subject
to a four-month hold period. The private placements are subject to
the final approval by the Toronto Stock Exchange. Campbell intends
to use the proceeds of the financing to continue its exploration
program at the Corner Bay property and other properties it owns in
the Chibougamau area. About Campbell Resources Inc. Campbell
concentrates on the development and exploitation of copper and gold
mining properties in the Chibougamau region of Quebec. The
geographical grouping of its operations allows Campbell to realize
economies of scale and to focus development within access to
existing infrastructures. Campbell's main operations include the
Copper Rand and Merrill mines, the Corner Bay project and the
Copper Rand mill. Campbell's headquarters are located in Montreal,
Quebec. About MineralFields, Pathway and First Canadian Securities
(R) MineralFields Group (a division of Pathway Asset Management) is
a Toronto-based mining fund with significant assets under
administration that offers its tax-advantaged super flow-through
limited partnerships to investors throughout Canada during most of
the calendar year, as well as hard-dollar resource limited
partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution
of structured products and mutual funds. Information about
MineralFields Group is available at http://www.mineralfields.com/.
First Canadian Securities(R), a division of Limited Market Dealer
Inc., is active in leading resource financings (both flow-through
and hard dollar PIPE financings) on competitive, effective and
service-friendly terms, with investors both within, and outside of
MineralFields Group. Certain information contained in this release
contains "Forward-Looking Statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and is subject to
certain risks and uncertainties, including those "Risk Factors" set
forth in the Campbell's current Annual Report on Form 20-F for the
year ended December 31, 2007. Such factors include, but are not
limited to: differences between estimated and actual mineral
reserves and resources; changes to exploration, development and
mining plans due to prudent reaction of management to ongoing
exploration results, engineering and financial concerns; and
fluctuations in the gold price which affect the profitability and
mineral reserves and resources of Campbell. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Campbell undertakes no
obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect unanticipated events or developments.
DATASOURCE: CAMPBELL RESOURCES INC. CONTACT: Campbell Resources
Inc.: Andre Y. Fortier, President and Chief Executive Officer,
(514) 875-9037, Fax: (514) 875-9764, ; Renmark Financial
Communications Inc.: Henri Perron: ; Eric St-Pierre: , (514)
939-3989, Fax: (514) 939-3717, http://www.renmarkfinancial.com/
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