Pencari Mining Corporation
TSX VENTURE : PMC

Pencari Mining Corporation

April 04, 2007 12:59 ET

Pencari Announces Closing of Private Placement and Granting of Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2007) - Pencari Mining Corporation (the "Company") (TSX VENTURE:PMC) is pleased to announce that it has closed the $1,500,000 private placement announced on March 15, 2007. This private placement consisted of the sale of 10,000,000 units at a price of $0.15 per unit, each unit consisting of one common share and one non-transferable share purchase warrant, with each warrant entitling the holder to purchase one additional common share of the Company at a price of $0.25 until April 4, 2009. All of the securities issued in connection with the closing of this private placement are subject to a hold period in Canada until August 5, 2007.

In addition, the Company has granted incentive stock options to certain directors, officers, employees and consultants, entitling them to purchase up to a total of 1,000,000 shares at a price of $0.55 per share for a period of 5 years.

Pencari Mining Corporation is an exploration and development company publicly traded on the TSX Venture Exchange.

PENCARI MINING CORPORATION

Adrian Rollke, President, CEO & Director

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

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

Contact Information

  • Pencari Mining Corporation
    Adrian Rollke
    President, CEO & Director
    (604) 683-2808
    (604) 683-2286 (FAX)
    Email: info@pencarimining.com