(via Thenewswire.ca)
TORONTO, ONTARIO, August 18, 2011 - Sea Green Capital Corp. (TSX VENTURE:SGS) ("Sea Green" or the "Company") is pleased to announce the closing of a non-brokered private placement of $500,000 with the MineralFields Group (the "Offering"). Sea Green issued 10,000,000 flow-through units (the "FT Units") at a price of $0.05 per FT Unit. Each flow-through unit is comprised of 1 common share and one-half of one non-flow-through share purchase warrant, with each whole warrant being exercisable into a common share at an exercise price of $0.15 for a term of 18 months.
A cash finder's fee of $30,000, to Limited Market Dealer Inc., representing 6% of the gross proceeds of the Offering, was paid by Sea Green in connection with the Offering as well as the issuance by Sea Green of a non-transferable option (the "Finder Option") to acquire 800,000 units of Sea Green (the "Finder Units"). The Finder Option is exercisable into Finder Units for a period of 18 months following the closing of the Offering at an exercise price of $0.05 per Finder Unit. Each Finder Unit will consist of one common share of Sea Green and one-half of one common share purchase warrant of the Company, with each whole warrant being exercisable into a common share at an exercise price of $0.15 for a term of 18 months.
The gross proceeds of the Offering will be used by Sea Green for exploration of its Zeus and CO properties in the Yukon and its properties in the Casa-Berardi Region of Quebec.
The securities issued pursuant to the Offering will be subject to a four month hold period from the date of closing of the Offering.
"We are very pleased to be entering into this relationship with MineralFields Group", said Alexader MacKay, President and CEO. "This is an important milestone in the growth of Sea Green Capital Corp. and we look forward to working with MineralFields Group as we develop our holdings in the Yukon Territories."
About the MineralFields Group
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. The sector focus is on gold and precious metals, base metals, rare earths and lithium, potash, uranium, oil, coal and gas. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®, and have raised over $1 billion in their 10 year history.
About Sea Green Capital Corp.
Sea Green Capital Corp. is a Canadian based junior exploration company focused on gold exploration in the Yukon White Gold District and Casa-Berardi Region of Quebec.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Sea Green Capital Corp., including, but not limited to the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
Alexander MacKay, President and CEO
Sea Green Capital Corp. Alexander MacKay President and CEO (416) 989-1067
Clark Kent Investor Relations (647) 519-2646 info@seagreencapital.com
Neither the 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.
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