Cadillac Ventures Inc.

Cadillac Ventures Inc.

January 03, 2007 17:16 ET

Cadlillac Ventures Inc.-Press Release

TORONTO, ONTARIO--(CCNMatthews - Jan. 3, 2007) - Cadillac Ventures Inc. (the "Company") is pleased to announce the completion of a private placement of 1,860,714 flow-through units in the Company, for proceeds of $651,250, on December 29th, 2006.

The flow-through units were priced at $0.35 per flow-through unit, with each unit entitling the purchaser to one flow-through common share, and one purchase warrant. Each purchase warrant is exercisable for a period of two years from closing into one additional common share in the capital of the Company at a price of $0.45 per additional common share. The proceeds of this offering will be used to fund exploration on the Company's wholly owned New Alger property.

The Company would also like to announce the receipt of $84,749 resultant from the exercise of common share purchase warrants issued pursuant to flow-through financing completed in December 2005. The Company issued 564,998 shares against this exercise, with all outstanding warrants from the December 2005 financing being exercised.

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 2007.

Cadillac Ventures Inc. is a reporting issuer which has 22,075,823 shares issued and outstanding after the transactions listed above, 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

  • Cadillac Ventures Inc.
    Jim Voisin
    President
    (519) 699-5352