Toronto (pcJ News Briefs) – Cadillac Ventures Inc. (TSX-V: CDC; OTC: CADIF) has closed previously announced private placement with Universal Precious Development Limited and two additional independent places of 18,000,000 units at $0.05 each for gross proceeds of $900,000.
A finder’s fee was paid in connection with this transaction consisting of $63,000 plus 960,000 warrants exercisable at $0.07 and 369,230 warrants exercisable at $0.08 for two years.
“Cadillac is pleased that its most recent investors were able to work with the company in securing new and additional investors into this Private Placement (which is 30% above the last round). The demand from China for Copper, coupled with the comfort level of these investors with Cadillac’s management team allowed us to secure this additional financing. Cadillac is one of the few junior mining companies in Canada to have as many significant Asian investors and looks forward to a bright future in Canada and in Asia,” said President Norman Brewster.
Cadillac Ventures’ board now consists of Norman Brewster, James Burke, Ming Jiao, Rajendra Singh, Maurice Stekel, Liu Jian Xiong, Sheng Wang, Youliang Wang.
Cadillac Ventures’ major Chines investors include Zhongxion Union Investment LLC and Sino-Canada Resources Fund I.
Cadillac Ventures owns Thierry copper property located outside of Pickle Lake in NW Ontario. The company also holds assets in Peru, New Brunswick and Quebec in various stages of joint venture and exploration efforts.
photo credit: Cadillac Ventures