Originaltext
Diese Übersetzung bewerten
Mit deinem Feedback können wir Google Übersetzer weiter verbessern
Home
Bathurst Metals Corp
Pacific Cascade Announces Private Placement
Published Jun 18 2012
5 min read

Pacific Cascade Announces Private Placement

Pacific Cascade Announces Private Placement

(via Thenewswire.ca)

Pacific Cascade Minerals Inc. (the "Company") announces that it has arranged a non-brokered private placement of 6,000,000 Units of securities. The Units are being placed at a price of $0.05 per unit, for gross proceeds of $300,000.

Each Unit under the private placement consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.10 within 24 months of closing. The placement is subject to regulatory approval.

The proceeds of the private placement will be used for working capital. Finders' fees are payable on a portion of the offering.

Grant of Options

The Company has granted an aggregate of 600,000 incentive stock options to Advisory Board Members and consultants, exercisable at a price of $0.10 per share for a period of ten years from the date of the grant. Any shares issued under the option grant will be subject to a four-month hold period from the date of granting, pursuant to the policies of the TSX Venture Exchange.

About the Company

Pacific Cascade Minerals Inc. (TSX.V: PCV) is a junior resource exploration company focused on opportunities both domestic and international. The Company has signed an agreement with Arcelia Gold Corp., a private company, to earn a 70% interest in a 9,846-hectare property, the "El Centenario" in the state of Durango, Mexico. Exploration on the El Centenario Project began in 2011 with the Company having expended the first year commitment of $1,000,000. Pacific Cascade Minerals also currently holds two molybdenum exploration properties in British Columbia, Canada.

About the Project

The El Centenario project is situated 15km southwest of the La Cienega mine (owned by Fresnillo PLC) a structurally controlled gold-silver-lead-zinc mineral deposit that has been in production since early? 1999. To date, the La Cienega mine has produced more than 2M oz of gold and 50M oz of silver. Additionally, the world-class Metates deposit (27M oz gold equivalent owned by Chesapeake Gold Corporation (TSX-V: CKG) is located 10 km south-southeast of the El Centenario project. The project area encloses a historical, little-explored mining district that was active during the Spanish colonial times. The concession block contains dozens of mineral prospects and an abundance of small-scale mine workings. The

style of mineralization varies from epithermal, low sulfidation, fracture-filling vein-stock-work breccia systems to skarn and sediment-hosted enriched disseminated zones. The Company has recently completed a Phase 1 diamond drill program on the La Esperanza silver zone consisting of 12 holes as well as surface sampling and trenching. The Company is currently preparing plans to mobilize surface sampling and diamond drilling on the Santa Margarita gold zone located approximately 2 kilometers east of the La Esperanza zone.

For further information regarding Pacific Cascade Minerals Inc. and the El Centenario project please visit the Company's website at www.pacificcascade.ca.

On behalf of the Board of Directors

"Harold Forzley"

President/CEO? Pacific Cascade Minerals Inc.

For more information contact Daniel Whittle, Investor Relations at: Telephone: (604) 637-1341 or e-mail ir@pacificcascade.ca.

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2012 Thenewswire.ca - All rights reserved.