Cadillac Ventures Inc.

Cadillac Ventures Inc.

December 30, 2015 17:41 ET

Cadillac Announces Closing of Second Tranche of Debenture Financing

TORONTO, ONTARIO--(Marketwired - Dec. 30, 2015) - Cadillac Ventures Inc. (TSX VENTURE:CDC)(OTC:CADIF) ("Cadillac" or the "Company") announced today that, following TSXV approval to close the second tranche of $150,000, Cadillac has closed the second tranche of its Convertible Debenture Offering as announced in the December 23, 2015 press release. The Convertible Debentures have been issued in denominations of CAD 1,000 principal amount with a conversion price of CAD 0.10. For each CAD 0.10 of principal amount of the Convertible Debentures the subscriber received one common share purchase warrant, exercisable for one common share of Cadillac at CAD 0.15 for 36 months from date of issue. The Convertible Debentures have a term of 36 months from date of issue and will accumulate interest at 7% per annum payable semi-annually in cash. The Convertible Debentures during their term may convert to common shares at $0.10 per share at the option of the subscriber at any time or at the option of Cadillac provided that the Volume Weighted Average Price ("VWAP") of the Corporation's common shares on the TSX Venture Exchange is at least equal to CAD 0.15 for 30 consecutive trading days. If during the term of the Convertible Debenture, Cadillac's VWAP is not equal to or above CAD 0.15 for 30 consecutive days, Cadillac shall redeem the Convertible Debentures at a 20% premium, together with accrued interest within 20 business days after 36 months. A Finder's Fee will be paid of 9% cash of the gross proceeds in addition to a compensation warrant equal to the gross proceeds divided by CAD 0.10, multiplied by 9%. Each compensation warrant will entitle the holder to purchase one common share of the Corporation for CAD 0.15 for a period of 36 months.

The proceeds of the Convertible Debenture will be used primarily to further explore and develop the Company's mineral properties and for general working capital.

Completion of the remainder of the financing is subject to receipt of TSX Venture Exchange approval. All of the securities issued under the Offering are subject to a four month hold period, which hold period will expire on May 1, 2016.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

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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