Southern Hemisphere Mining Limited
TSX VENTURE : SH

Southern Hemisphere Mining Limited

August 06, 2009 10:32 ET

Southern Hemisphere Announces $3 Million Private Placement

Southern Hemisphere Announces $3 Million Private Placement for Exploration Programs, Los Pumas Manganese Project Resource Drill Program and General Working Capital

TORONTO, CANADA--(Marketwire - Aug. 6, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Southern Hemisphere Mining Limited (TSX VENTURE:SH) ("Southern Hemisphere" or the "Corporation") wishes to announce a private placement financing for gross proceeds of $3 million.

Private Placement

The Private Placement will consist of 15,000,000 units at a price of $0.20 per unit. Each unit will consist of one common share and a one half share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at a price of $0.40 per share, exercisable for a period of 2 years from the closing date.

The proceeds from the financing will be used for exploration programs, additional resource definition drilling at the Los Pumas manganese project and general working capital.

All the securities issued pursuant to the foregoing will be subject to a four-month hold period. The private placement is subject to the approval of the TSX Venture Exchange.

There are no selling fees or commissions payable on the gross proceeds of the private placement

About Southern Hemisphere Mining Limited

Southern Hemisphere is a South American focused resource company focused on exploring for large tonnage base metal opportunities in Chile. The Company currently has thirteen base metal projects in Chile with prospective exploration ground covering mineralized porphyry copper systems, copper-gold systems, and manganese, uranium and iron prospects.

The Company has commenced an exploration and resource drill program at its Los Pumas manganese Project located in Northern Chile. This project has the potential to host a substantial manganese resource.

This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

Shares Outstanding: 52,685,687

Neither the 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 News Release.

Contact Information

  • Southern Hemisphere Mining Limited
    Clark Kent
    Investor Relations
    1-416-883-3838
    ckent@currentmca.com
    or
    Southern Hemisphere Mining Limited
    Trevor Tennant
    President
    +61-8-9481-2122