MineralFields Group purchases 8,333,333 flow-through units
MONTREAL, June 9 /CNW Telbec/ - Campbell Resources Inc. (TSX: CCH, OTCBulletin Board: CBLRF) ("Campbell") today announced that Toronto-basedMineralFields Group has purchased 8,333,333 flow-through shares of Campbell at$0.12 each for total proceeds of $1,000,000.
"We are very pleased to have this strong relationship with MineralFieldsGroup," said Andre Fortier, Campbell's President and CEO. "This is animportant milestone in the growth of Campbell Resources Inc., and we lookforward to working with MineralFields Group as we develop our holdings in theChibougamau region."
Additionally, another group of investors has purchased 4,500,000flow-through shares for total proceeds of $540,000.
This is the second tranche of a previously announced non-brokered privateplacement. With the closing of this second tranche, $3,290,000 has been raisedto date.
An announcement on the final tranche of the private placement will bemade next week.
Cash commissions of 6% of the proceeds of certain subscriptions were paidto agents.
All securities issued pursuant to both private placements are subject toa four-month hold period. The private placements are subject to the finalapproval by the Toronto Stock Exchange.
Campbell intends to use the proceeds of the financing to continue itsexploration program at the Corner Bay property and other properties it owns inthe Chibougamau area.
About Campbell Resources Inc.
Campbell concentrates on the development and exploitation of copper andgold mining properties in the Chibougamau region of Quebec. The geographicalgrouping of its operations allows Campbell to realize economies of scale andto focus development within access to existing infrastructures. Campbell'smain operations include the Copper Rand and Merrill mines, the Corner Bayproject and the Copper Rand mill. Campbell's headquarters are located inMontreal, Quebec.
About MineralFields, Pathway and First Canadian Securities (R)
MineralFields Group (a division of Pathway Asset Management) is aToronto-based mining fund with significant assets under administration thatoffers its tax-advantaged super flow-through limited partnerships to investorsthroughout Canada during most of the calendar year, as well as hard-dollarresource limited partnerships to investors throughout the world. Pathway AssetManagement also specializes in the manufacturing and distribution ofstructured products and mutual funds. Information about MineralFields Group isavailable at www.mineralfields.com. First Canadian Securities(R), a divisionof Limited Market Dealer Inc., is active in leading resource financings (bothflow-through and hard dollar PIPE financings) on competitive, effective andservice-friendly terms, with investors both within, and outside ofMineralFields Group.
Certain information contained in this release contains "Forward-LookingStatements" within the meaning of the Private Securities Litigation Reform Actof 1995 and is subject to certain risks and uncertainties, including those"Risk Factors" set forth in the Campbell's current Annual Report on Form 20-Ffor the year ended December 31, 2007. Such factors include, but are notlimited to: differences between estimated and actual mineral reserves andresources; changes to exploration, development and mining plans due to prudentreaction of management to ongoing exploration results, engineering andfinancial concerns; and fluctuations in the gold price which affect theprofitability and mineral reserves and resources of Campbell. Readers arecautioned not to place undue reliance on these forward-looking statements,which speak only as of the date hereof. Campbell undertakes no obligation torelease publicly any revisions to these forward-looking statements to reflectevents or circumstances after the date hereof or to reflect unanticipatedevents or developments.
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