Sunset Cove Mining Closes $148,500 Financing
Toronto, Ontario--(Newsfile Corp. - October 31, 2014) - Sunset Cove Mining (TSXV: SSM) (BVL: SSM) today announces that it is has closed a private placement in the amount of $148,500. A total of 2,970,00 common shares were issued at a price of $0.05 per common share and each share was accompanied by one common share purchase warrant each whole warrant provides the holder the right to purchase one (1) additional share for $0.10 per Share. The warrants expire in 18 months from the closing. There are no acceleration rights on the warrants.
The President Lorne Woods and Chief Operating Officer Marc Blais as well as key suppliers were among the participants.
The 2,970,000 Units issued under the private placement are subject to a four (4) month hold period, which will expire on February 26, 2014.
TSX Venture Exchange has conditionally approved the private placement. The proceeds have been used for general working capital for the Corporation's operations in Canada, including the payment of certain service providers. Sunset Cove is awaiting final TSXV approval for the private placement subject to this press release and other conditions.
Also the Company is working hand in hand with its management, Directors and suppliers to clean up its balance sheet.
About Sunset Cove - Sunset Cove Mining Inc. is a dynamic Canadian junior mineral exploration and development company dedicated to driving shareholder value through the economical acquisition, exploration and development of strategic metals properties in Canada and Latin American locations to the point where they become attractive joint venture or acquisition targets. Sunset currently has two properties in its portfolio, the Lac Gueret West graphite property in Quebec and the Carolay Silver property in Peru.
Forward-Looking Statements
Some of the statements contained herein may be forward-looking statements that involve known and unknown risks and uncertainties. Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability, and the uncertainty of access to additional capital. Sunset Cove disclaims any obligation to update any such forward-looking statements.
"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."
For further information, please contact:
Lorne Woods, President, Sunset Cove Mining
(877) 234-0692; ext. 250
lwoods@sunsetcovemining.com
www.sunsetcovemining.com