Cadiscor Announce Closing of a $3.0 Million Private Placement Financing
03 Mars 2008 - 2:30PM
Marketwired
MONTREAL, QUEBEC (TSX VENTURE: CAO)(FRANKFURT: DQN) is pleased
to announce that it has closed a $3,000,000 private placement with
Becher McMahon Capital Markets ("Becher McMahon"). Becher McMahon
arranged the placement of 5,454,545 units ("Unit") of Cadiscor at a
price of $0.55 per Unit. Each Unit is comprised of one common share
of Cadiscor and one half of one warrant. Each full warrant entitles
the holder to purchase one Cadiscor common share at a price of
$0.70 for a period of 24 months after February 29, 2008, the
closing date of the financing. The Unit shares and warrants will be
subject to a hold period of four months and one day after the
closing date.
Cadiscor will use the financing net proceeds to fund further
exploration work on the Sleeping Giant Mine, Discovery, Flordin,
Florence and Cameron Shear properties, for working capital and
general corporate purposes.
Cadiscor paid Becher McMahon a cash commission equal to 8.0% of
the gross proceeds of the financing. Becher McMahon also received
compensation options equal to 8.0% of the total number of Units
sold pursuant to the Offering. Each compensation option entitles
Becher McMahon to purchase one Unit at the issue price for a period
of 24 months after the closing date.
Forward-Looking Statements
This press release contains forward-looking statements subject
to certain risks and uncertainties. There can be no assurance that
these statements will prove to be correct, and actual results and
future events could differ materially from those implied by such
statements. These risks and uncertainties are discussed in the
annual report filed with the securities commissions of Alberta,
British Columbia, Ontario and Quebec, and in the 10-KSB annual
report filed with the US Securities and Exchange Commission. The
Company does not undertake to publicly revise or update any such
statements on the basis of new Information, future events or any
other event.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: Cadiscor Resources Inc. Michel Bouchard President
450-641-0775 mbouchard@bbhgm.com www.cadiscor.com Becher McMahon
Capital Markets Campbell Becher 647-426-1667
cbecher@bmcapitalmarkets.com www.bmcapitalmarkets.com
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