TORONTO, ONTARIO--(Marketwire - May 29, 2012) - Cadillac Ventures Inc. (TSX VENTURE:CDC) ("Cadillac" or the "Company") announces the completion of the sale of its 90% interest in its Joint Venture with Minas de Aguas Tenidas, S.A. ("MATSA") for Cdn$2,500,000 (the "Transaction") (see the Company's press releases dated April 23 and May 8, 2012).
The sale price is being paid in three installments with the final $1,000,000 payment due within 15 days.
Cadillac obtained minority shareholder approval for the Transaction by obtaining the written consent of shareholders holding over 50% of Cadillac's issued and outstanding shares (excluding shares beneficially owned or controlled, directly or indirectly, by Trafigura Beheer B.V.). The TSX Venture Exchange has provided its final acceptance of the Transaction.
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.
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.
Contact Information:
Norman Brewster
President and Chief Executive Officer
416 203-7722
www.cadillacventures.com