Sacre-Coeur Minerals, Ltd. Closes $2.575 Million Private Placement
SACRE-COEUR MINERALS, LTD. (the 'Company') is pleased to announce
the closing of its previously announced non-brokered private placement
which has raised gross proceeds of CAD $2.575 Million. Under the terms
of the private placement, the Company has issued 4,681,863 Units (the
'Units?) at CAD $0.55 per Unit to a group of accredited private and
institutional investors.
Each Unit consists of one common share of the Company and one-half of
one share purchase warrant (the 'Warrants?). Each whole Warrant entitles
the holder to purchase one additional common share of the Company at an
exercise price of CAD $0.75 until March 15, 2013.
The Company paid cash finders′ fees of CAD $44,467, representing 1.73%
of the aggregate proceeds of the offering. The Units are subject to a
4-month hold period in Canada expiring July 16, 2011.
Proceeds from the private placement will be used to explore the
Company′s properties located in Guyana and for working capital.
According to Gregory Sparks, CEO of the Company, 'We are delighted with
the investor response to our offering. This additional capital will
allow us to continue our budgeted programs in 2011 as we ramp-up
alluvial gold production and drilling on the Million Mountain trend.'
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development
of properties for the potential mining of gold, metals and diamonds in
South America, initially focussing on exploration for gold on its
properties in Guyana. The Company presently has an interest in
approximately 1000 sq. km of mineral properties in Guyana, including the
Million Mountain Property. The Company has offices in Vancouver, Canada
and Georgetown, Guyana. More information about the Company is available
at <www.scminerals.com>.
ON BEHALF OF THE BOARD OF DIRECTORS OF |
SACRE-COEUR MINERALS, LTD. |
'Gregory B. Sparks? |
Gregory B. Sparks |
President & CEO |
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein. The statements made in this press release
may contain certain forward-looking statements that involve a number of
risks and uncertainties. Actual events or results may differ from the
Company′s expectations. There is no guarantee that the tenor or
continuity of the resource target discussed herein will ultimately prove
to be as delineated in the Company′s sampling program, nor that the
yields obtained by production scale gravity extraction will be
comparable to the yields produced in the sampling program.
Sacre-Coeur Minerals, Ltd.
Gregory B. Sparks, 604-899-0100
Fax:
604-899-0200
President & CEO
greg@scminerals.com
or
Irwin
Olian, 604-899-0100
Fax: 604-899-0200
Chairman
tigertail@scminerals.com
or
Scott
Young, 604-899-0100
Cellular: 705-888-2756
Fax: 604-899-0200
Business
Development Executive
scott@scminerals.com