Cadillac Ventures Inc.

Cadillac Ventures Inc.

December 21, 2006 17:36 ET

Cadillac Ventures Inc.: News Release

TORONTO, ONTARIO--(CCNMatthews - Dec. 21, 2006) - Cadillac Ventures Inc. (the "Company") is pleased to announce that it held a successful annual general meeting, with 51% of shareholders represented in person or by proxy.

The shareholders voted to support management and its recommendations, reappointing McCarney Greenwood LLP as auditors for the Company, re-approving the share option plan, and electing as directors of the Company for the ensuing year Jim Voisin, Nicole Brewster, Neil Novak, Maurice Stekel and William McCullough.

The Company has issued incentive stock options to directors and consultants of the Company, totaling 1,700,000 options at $0.10.

The Company would also like to announce that it has completed a private placement financing of $378,475.75. Pursuant to this financing, the Company issued 2,523,331 units at a price of $0.15 per share, with each unit comprised of one common share of the Company and one common share purchase warrant which entitles the holder thereof to purchase one common share of the Corporation at a price of $0.20 for a period of 24 months from the date of closing. These funds will be used for general working capital purposes.

Cadillac Ventures Inc. holds the historically productive New Alger project located in the Cadillac Break mining camp in the Province of Quebec. The Company intends to pursue an exploration and drilling program on this property in order to produce a National Policy 43-101 compliant resource estimate in the 2007.

Cadillac Ventures Inc. is a reporting issuer which has 19,650,111 shares issued and outstanding and it does not presently trade on any listed Exchange.

This press release, required by applicable Canadian securities law, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Contact Information

  • Jim Voisin
    President
    (519) 699-5352