TORONTO, ONTARIO--(Marketwired - Jan. 30, 2014) - Cadillac Ventures Inc. (TSX VENTURE:CDC) (OTC:CADIF) ("Cadillac" or the "Company") announces that is has extended its current private placement financing (announced on November 25, 2013) of units ("Units") at Cdn$0.05 per Unit and flow-through units ("FT Units") at Cdn$0.06 per FT Unit.
The Company closed the first tranche of the private placement in December, 2013, issuing 200,000 Units and 2,090,666 FT Units for aggregate gross proceeds of $135,440. The Company anticipates closing a second tranche by February 28, 2014.
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.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws, including with respect to the closing of a second tranche of the private placement. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'believe', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals (including from the TSX Venture Exchange), licences and permits and the availability of financing, as described in more detail in the Company's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and Cadillac assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
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.