SACRE-COEUR MINERALS, LTD.
(the "Company") is pleased to announce the closing of its
previously announced non-brokered private placement which has raised gross
proceeds of CAD $2.575 Million. Under the terms of the private placement, the
Company has issued 4,681,863 Units (the “Units”) at CAD $0.55 per
Unit to a group of accredited private and institutional investors.
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 holder to purchase one additional common share of the Company at
an exercise price of CAD $0.75 until March 15, 2013.
The Company paid cash finders’ fees of CAD $44,467, representing
1.73% of the aggregate proceeds of the offering. The Units are subject to a
4-month hold period in Canada expiring July 16, 2011.
Proceeds from the private placement will be used to explore the
Company’s properties located in Guyana and for working capital.
According to Gregory Sparks, CEO of the Company, “We are delighted with
the investor response to our offering. This additional capital will allow us
to continue our budgeted programs in 2011 as we ramp-up alluvial gold
production and drilling on the Million Mountain trend."
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 1000 sq. km 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
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SACRE-COEUR MINERALS, LTD.
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“Gregory B.
Sparks”
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Gregory B. Sparks
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President & CEO
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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.
There is no guarantee that the tenor or continuity of the resource target
discussed herein will ultimately prove to be as delineated in the
Company’s sampling program, nor that the yields obtained by production
scale gravity extraction will be comparable to the yields produced in the
sampling program.
Contact:
Sacre-Coeur Minerals, Ltd.
Gregory B. Sparks, 604-899-0100
Fax: 604-899-0200
President & CEO
greg@scminerals.com
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