Sacre-Coeur Minerals, Ltd. Announces Additional Private Placement Thursday, August 28, 2008 9:40 PM
Symbols: SCM
Sacre-Coeur Minerals, Ltd. Announces Additional Private Placement
Vancouver, British Columbia CANADA, August 28, 2008 /FSC/ - Sacre-Coeur Minerals Ltd. (SCM - TSX Venture, S5N - FWB), (the "Company") is pleased to announce a non-brokered private placement to raise gross proceeds of up to CAD $1.55 million. Under the terms of the private placement, the Company will offer for sale a maximum of 1,000,000 Units (the "Units") at CAD $1.55 per Unit to a single institutional investor.
Each Unit will consist of one Common Share of the Company and one-half of one share purchase warrant (the "Warrants"), where each whole Warrant will allow the subscriber to purchase one additional Common Share of the Company at CAD $1.75 for a period of two years from the closing date.
The Company may, in its discretion, pay a cash finders' fee of up to 6.45% of the total gross proceeds of the offering.
The Units issued upon the closing of the private placement will be subject to a 4-month hold period. The private placement is subject to the acceptance of the TSX Venture Exchange.
According to Irwin Olian, CEO of the Company, "This private placement concludes all anticipated financing for the foreseeable future. As a result of this last placement the Company will be well funded with a total cash on hands of CAD $9.2 million. The Company is not contemplating doing any more private placements in the near future. Proceeds from the private placement will be used to explore the Company's properties located in Guyana during 2009."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 850 square miles of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.
For further information, contact:
Irwin Olian, President and CEO
Email: tigertail@scminerals.com
Phone: (604) 899-0100
Fax: (604) 899-0200
Lee Dunston, Corporate Communications
Email: ldunston@scminerals.com
Phone: (604) 899-0100
Fax: (604) 899-0200
Sacre-Coeur Minerals, Ltd
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8
Source: Sacre-Couer Minerals Ltd. (SCM - TSXV) www.scminerals.com
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Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
(Source: iStockAnalyst )
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