PACIFIC CASCADE ANNOUNCES PRIVATE PLACEMENT

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[{"type":"text","content":"\nPACIFIC CASCADE ANNOUNCES PRIVATE PLACEMENT\n\n Jun. 3, 2011 (TheNewswire.ca) -- Vancouver, British Columbia - Pacific Cascade Minerals Inc. (TSXV:PCV) (the \"Company\") is pleased to announce that it has arranged a non-brokered private placement of up to 5,000,000 Units of securities. The Units are being placed at a price of $0.10 per unit, for gross proceeds of $500,000.00.Each Unit under the private placement consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.20 within 24 months of closing. The placement is subject to regulatory approval.The proceeds of the private placement will be used to fund a portion of the acquisition cost and work program for the Company's El Centenario property in the State of Durango, Mexico and for working capital.Grant of OptionsThe Company has granted an aggregate of 700,000 incentive stock options to directors 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.ON BEHALF OF THE BOARD OF DIRECTORS,\"Harold Forzley\"FOR FURTHER INFORMATION PLEASE CONTACT:Harold Forzley, President / CEO\nPacific Cascade Minerals Inc.For more information contact Harold Forzley, President /CEO, at:Telephone: (604) 637-1341\nEmail: [email protected] TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. We seek safe harbourCopyright (c) 2011 Thenewswire.ca - All rights reserved.\n\n\n\n","length":2041,"tagName":"div"}]

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