|
FOR IMMEDIATE RELEASE
August 8, 2008
TSX: SCM.V
FRANKFURT: S5N
SACRE-COUER MINERALS, LTD. CLOSES $3.625 MILLION PRIVATE PLACEMENT
VANCOUVER, British Columbia - SACRE-COEUR MINERALS, LTD. (the "Company") is pleased to announce the closing of its previously announced non-brokered private placement which has now raised gross proceeds of CAD $3,625,000. Under the terms of the private placement, the Company has issued 2,500,000 Units (the "Units") at CAD $1.45 per Unit to two institutional investors, including RAB Special Situations (Master) Fund Limited. The transaction was increased from the 2,000,000 Units previously announced.
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 subscriber to purchase one additional common share of the Company at an exercise price of CAD $1.75 until August 8, 2010. The Units are subject to a 4-month hold period expiring December 9, 2008. No commissions or finders' fees were payable in connection with the private placement.
According to Irwin Olian, CEO of the Company, "We are gratified for the continued support of our strong investor base, even in this rather difficult financial environment. We particularly appreciate the investment of RAB Special Situations (Master) Fund Limited, who took down 80% of the placement and have been a consistent supporter of the Company since its IPO."
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 850 square miles 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
SACRE-COEUR MINERALS, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
For further information, contact:
|
Irwin Olian, President and CEO
Email: tigertail@scminerals.com
Phone: 604-899-0100
Fax: 604-899-0200 |
Lee Dunston, Corporate Communications
Email: ldunston@scminerals.com
Phone: 604-899-0100
Fax: 604-899-0200 |
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.
|