Cadillac Ventures Inc.

TSX VENTURE : CDC


Cadillac Ventures Inc.

February 08, 2013 16:00 ET

Cadillac Announces $500K Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 8, 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 intends to conduct a private placement offering of units ("Units") of the Company for gross proceeds of up to $500,000. Each Unit will be issued at $0.06 and will consist of one common share of Cadillac and one common share purchase warrant, exercisable for 30 months for an additional common share at $0.10.

The Company anticipates that Urion Mining International B.V. ("Urion"), an existing shareholder of the Company holding, directly and indirectly, approximately 24% of Cadillac's issued and outstanding shares, will subscribe for 100% of the offering. Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the issuance of Units to Urion will constitute a "related party transaction". The Company is exempt from obtaining both a formal valuation and minority shareholder approval in connection with the private placement to Urion because neither the fair market value of the common shares and warrants to be issued to Urion under the offering, nor the consideration for such securities, exceeds 25% of the Company's market capitalization as calculated in accordance with MI 61-101.

The Company intends to use the proceeds from the offering for general working capital purposes. The offering is subject to the approval of the TSX Venture Exchange. All securities issued under the offering will be subject to a four-month statutory hold period in Canada.

As a follow-up to the Company's news releases dated January 10th and 11th, 2013, Cadillac announces that it will not be closing a second and final tranche of its previously announced private placement of units at $0.09 and flow-through units at $0.10. Total gross proceeds raised under that private placement were approximately $1.2 million (see the Company's press release dated December 6, 2012).

About Cadillac

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.

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