Cascadia International Resources Inc.

Cascadia International Resources Inc.

November 09, 2007 16:27 ET

Cascadia Announces Closing of Private Placement with MineralFields

CALGARY, ALBERTA--(Marketwire - Nov. 9, 2007) -


Cascadia International Resources Inc. ("Cascadia" or the "Company") (TSX VENTURE:CJ) is pleased to announce that effective November 7, 2007, Cascadia completed the second closing of its previously announced placement of flow-through units (the "Offering") to the MineralFields Group. An aggregate of 1,250,000 units ("Units") were issued at the second closing of the Offering at $0.20 per Unit for gross proceeds to the Company of $250,000. Each Unit is comprised of one common share of the Company issued on a "flow-through" basis under the Income Tax Act (Canada) (the "FT Shares") and one-half of one non-transferable common share purchase warrant (the "Warrants"). Each whole Warrant is exercisable into one common share of the Company on or before December 31, 2008 at $0.25 per share. A finder's fee of $20,000 representing 8 % of the gross proceeds was paid in connection with this placement.

"We are very pleased to continue this relationship with MineralFields Group", said Jim Evaskevich, CEO of Cascadia. "Our connection with MineralFields has expanded, and we look forward to continue working with MineralFields Group as we develop our exploration projects".

About MineralFields, Pathway and First Canadian Securities®

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar)on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

The proceeds from the offering will be used to incur eligible Canadian exploration and development expenses. The securities issued pursuant to the private placement are subject to a four-month hold period expiring on March 8, 2008. Cascadia will have 49,607,121 common shares outstanding post closing of this financing.

All references to dollar amounts are in Canadian funds.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

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