Sacre-Coeur Minerals Ltd.

Published : February 06th, 2012

ANNOUNCES ARRANGEMENT OF $650,000 CREDIT FACILITY

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Keywords :   Canada | Georgia | Gold | Volatility |
Sacre-Coeur Minerals

Sacre-Coeur Minerals, Ltd.
Suite 1450, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8

FOR IMMEDIATE RELEASE


TSXV:  SCM.V

Frankfurt:  S5N


February 3, 2012                                                                                                 

 

 

SACRE-COEUR MINERALS ANNOUNCES ARRANGEMENT OF $650,000 CREDIT FACILITY

 

VANCOUVER, British Columbia - SACRE-COEUR MINERALS, LTD. (the "Company") announced that it has today closed on a credit facility in the principal amount of $650,000 to provide working capital for general corporate purposes, including the establishment of its Contract Drilling Division (see PR dated December 15, 2011). The Company has issued an unsecured Convertible Debenture ("Debenture") in the amount of $650,000 to a limited partnership (the "Holder"). The Debenture will mature on February 2, 2013. The Debenture bears interest at 8% per annum, payable quarterly in arrears.  At any time after a four month hold (June 4, 2012), the outstanding principal balance or any portion thereof can be converted at the Holder's option into common shares of the Company at a conversion price of $0.28 per share.  If after June 4, 2012, the weighted average trading price of the Company's common shares for any 20 consecutive trading day period is equal to or greater than $0.30, the Company, at its election, may force conversion. The Debenture and any common shares issued upon conversion are subject to a hold period expiring June 4, 2012.

 

Combined net cash flow from the Company's alluvial mining operations and contract drilling division is expected to cover all operating costs, including on-going hard-rock exploration, feasibility studies for development of a portion of its existing hard-rock gold resource, property holding costs, and corporate general and administrative costs plus accumulation of additional working capital net of repayment of the Debenture to the extent that it is not converted into common shares of the Company.

 

We are very pleased to have arranged this facility under favorable terms. The structure and scope of the facility is intended to provide the Company with the working capital required for the front-end costs associated with set-up of the Company's contract drilling division with minimal dilution to our share capital if conversion is elected, and repayment is expected to be managed from cash flow if it is not converted.

 

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 <www.scminerals.com>.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.

 "Gregory B. Sparks" 
Gregory B. Sparks, P. Eng.

President & CEO

 

 

For further information, contact:

 

Gregory Sparks, President and CEO

Email: greg@scminerals.com

Phone: 604-899-0100

Fax: 604-899-0200

 

Don Mosher-B&D Capital, Corporate Consultant

Email:  don@scminerals.com

Phone: 604-899-0100

Mobile:  604-617-5448

Fax: 604-899-0200

 

 

 


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 the timing of, revenue/cash flow from and costs of current and proposed operations and production.

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 statements contained herein: 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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Data and Statistics for these countries : Canada | Georgia | All
Gold and Silver Prices for these countries : Canada | Georgia | All

Sacre-Coeur Minerals Ltd.

EXPLORATION STAGE
CODE : SCM.V
CUSIP : 786178
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Sacre-Coeur Min. is a gold exploration company based in Canada.

Sacre-Coeur Min. holds various exploration projects in Guyana.

Its main exploration properties are MILLION MOUNTAIN, NORTHWEST GOLD, KARTUNI and NORTHWEST REGIONAL BLOCK in Guyana.

Sacre-Coeur Min. is listed in Canada and in Germany. Its market capitalisation is CA$ 994 050 as of today (US$ 830 827, € 701 218).

Its stock quote reached its highest recent level on April 27, 2007 at CA$ 3.60, and its lowest recent point on August 15, 2014 at CA$ 0.01.

Sacre-Coeur Min. has 66 269 996 shares outstanding.

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Financings of Sacre-Coeur Minerals Ltd.
9/19/2013REPORTS NEGOTIATION OF US $10 MILLION FINANCING
3/15/2011 Closes $2.575 Million Private Placement
2/17/2011Announces Private Placement
4/28/2010closes $1,225 million private placement
4/13/2010Announces private placement
8/30/2008CLOSES $1.550 MILLION PRIVATE PLACEMENT
8/29/2008ANNOUNCES ADDITIONAL PRIVATE PLACEMENT
8/15/2008CLOSES FURTHER $4.125 MILLION PRIVATE PLACEMENT; GUYANA PROG...
8/6/2008 ANNOUNCES PRIVATE PLACEMENT
8/9/2008CLOSES $3.625 MILLION PRIVATE PLACEMENT
Option Grants of Sacre-Coeur Minerals Ltd.
1/28/2009GRANTS STOCK OPTIONS
Nominations of Sacre-Coeur Minerals Ltd.
1/18/2012ANNOUNCES APPOINTMENT OF MR. JOHN BOOTH AS DIRECTOR, AND ELE...
Project news of Sacre-Coeur Minerals Ltd.
7/29/2013Prime Equity Research - Buy Target $0.64 (CA: SCM.v or US:...
6/20/2013REPORTS RESULTS FROM GUYANA METALLURGICAL TEST HOLES: LENGTH...
10/16/2012ANNOUNCES TWELVE WEEK ELLUVIAL/ALLUVIAL GOLD PRODUCTION FIG...
8/1/2012(Million Mountain)ARRANGES EQUIPMENT SALE TO RIVERSIDE RESOURCES: AIMS AT DEV...
3/23/2011(Million Mountain)Drill Testing Targets for Expansion of Million Mountain Zone...
1/5/2009(Kartuni)COMPLETES PRIORITIZATION AND RESTRUCTURING OF ITS GUYANA PRO...
12/12/2008(Million Mountain)DISCOVERS PORPHYRY-TYPE AU, CU, MO MINERALIZATION AT MILLION...
11/12/2008(Northwest Regional Block)COMPLETES INITIAL ASSESSMENT OF ITS GUYANA EXPLORATION PORTF...
7/14/2008(Northwest Regional Block)COMMENCES DRILLING KEY TARGETS AT NORTHWEST GOLD PROJECT
2/26/2008(Northwest Regional Block)NEW TRENCH AND PIT DATA EXPANDS HIGH-GRADE ZONE AT SACRE-COE...
Corporate news of Sacre-Coeur Minerals Ltd.
8/26/2013Event Driven Trading Opportunity in Sacre-Coeur Minerals as ...
5/17/2013Article on Sacre-Coeur Minerals written by ProactiveInvestor...
5/6/2013Article on Sacre-Coeur Minerals (TSX-V: SCM, US-OTC: SCRMF)
3/29/2013March News (TSX-V: SCM - OTC: SCRMF)
3/14/2013targets $40mln a year cash flow (TSX-V: SCM, market cap $12...
2/7/2013ENGAGES DEDICATED INVESTOR RELATIONS COORDINATOR
10/5/2012CLOSES FIRST TRANCHE OF BROKERED OFFERING
2/6/2012ANNOUNCES ARRANGEMENT OF $650,000 CREDIT FACILITY
12/15/2011ANNOUNCES FORMATION OF CONTRACT DRILLING DIVISION
6/2/2011JOIN SACRE - COEUR MINERALS AT THE 2011 WORLD RESOURCE INVES...
2/1/2011Grants Severstal Two Week Extension
1/23/2009ENGAGES SCOTT YOUNG FOR INVESTOR RELATIONS TEAM
1/15/2009SHALLOW PROSPECT DRILLING AT SACRE-COEUR?S NORTHWEST DISTRIC...
7/7/2008ADDS SEVEN NEW TARGET ZONES AT MILLION MOUNTAIN ? DRILLING U...
11/19/2007FORMAL AGREEMENT CONCLUDED FOR TRANSFER OF MILLION MOUNTAIN ...
5/23/2007RECEIVES $1.8 MILLION FROM RECENT WARRANT EXERCISES
5/14/2007250 METER STEPOUT TO SOUTH YIELDS BROAD LOW GRADE ZONE; INTE...
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