TORONTO, ONTARIO--(Marketwire - Jan. 10, 2013) -
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") announces that it has extended its current private placement financing (announced on November 20, 2012) of units ("Units") at $0.09 and flow-through units ("FT Units") at $0.10.
The Company closed the first tranche of the private placement on December 6, 2012 issuing 11,800,000 FT Units and 60,000 Units for aggregate gross proceeds of approximately $1.2 million. The Company anticipates closing a second tranche by January 31, 2013.
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 1980's. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cadillac Ventures Inc.
President and Chief Executive Officer