(via Thenewswire.ca)
Vancouver, British Columbia, Canada - September 8, 2011 - Pacific Cascade Minerals Inc. (the "Company") has closed its non-brokered private placement financing of 35,000,000 units at $0.05 per unit for aggregate gross proceeds of $1,750,000.
Each unit consists of one common share and one-half (1/2) of one share purchase warrant of the Company. Each whole share purchase warrant entitles the holder, on exercise, to purchase an additional common share of the Company at a price of $0.10 per share at any time until September 1, 2013.
The Company paid $93,560 and issued 350,400 units and 2,221,600 Finders' Warrants as finders' fees on a portion of the private placement. Each Finders' Warrant entitles the holder, on exercise, to purchase an additional common share of the Company at a price of $0.10 per share at any time until September 1, 2012.
The securities issued are subject to a four-month hold period.
The Company also announces acceptance for filing by the TSX Venture Exchange of the agreement between the Company and Arcelia Gold Corp. for an option to acquire an undivided 70% interest in the El Centenario property located in the state of Durango, Mexico. Proceeds of the private placement will be used to fund the purchase of, and exploration program on, the El Centenario Property. The Company paid a finder's fee of 100,000 common shares to Robert Krause in connection with the Arcelia agreement.
On behalf of the Board of Directors
"Harold Forzley"
President / CEO
Pacific Cascade Minerals Inc.
For more information contact Harold Forzley, President /CEO at:
Telephone: (604) 637-1341
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