VANCOUVER, BC -- (Marketwire) -- 08/28/08 -- SACRE-COEUR MINERALS, LTD. (TSX-V: SCM)
(FRANKFURT: SSN) (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.
Distributed by Filing Services Canada and retransmitted by Marketwire
For further information, contact:
Irwin Olian
President and CEO
Email: Email Contact
Phone: (604) 899-0100
Fax: (604) 899-0200
Lee Dunston
Corporate Communications
Email: Email Contact
Phone: (604) 899-0100
Fax: (604) 899-0200
Sacre-Coeur Minerals, Ltd.
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8