2013-11-02 00:18:14 -
Vancouver, British Columbia CANADA, November 01, 2013 /FSC/ - Cadillac Mining Corporation (CQX - TSX Venture), announces that, subject to regulatory approval, it wishes to amend the exercise price and extend the term of certain warrants that were issued in connection with a private placement completed in May and June of 2012.
The expiry of a total of 1,115,000 warrants will be extended to November 15, 2014, while the exercise price will be reduced from $0.40 to $0.20 per share. The warrants will continue to be subject to an early expiry provision, wherein the expiry, upon notice, will be reduced to 30 days, if for any 10 consecutive trading days the trade-weighted price of the Company's shares on the TSX-V
equals or exceeds $0.30 per share.
The Company continues to aggressively pursue all financing alternatives for its Goldstrike property, situated in the Great Basin in southwestern Utah.
About Cadillac Mining Corporation
Cadillac Mining Corporation is a junior exploration and development company based in Vancouver, Canada focused on large-scale precious and base metal projects in the Abitibi geological province in Canada, and the Great Basin in the western USA. The Company's long term objective is the discovery of a major deposit through carefully planned exploration strategies. Its business model provides shareholders access to a wealth of exploration experience, dedicated management, and the opportunity to experience discovery through a conservatively capitalized company. The Company has approximately 32 million shares outstanding.
On behalf of the Board of Directors
Victor Erickson, P.Eng.
President & CEO
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHICH TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-VENTURE EXCHANGE) DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the recently completed reverse circulation drilling program which may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that could be encountered if additional exploration and drilling is completed.
In connection with the forward-looking information contained in this news release, Cadillac has made numerous assumptions, regarding, among other things: the geological data and information has received is reliable, and is based upon practices and methodologies which are consistent with industry standards. While Cadillac considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies including there is no certainity that additional exploration on the Goldstrike property would located additional gold mineralization. Additionally, there are known and unknown risk factors which could cause Cadillac's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the possibility that future drilling on the Goldstrike project may not occur on a timely basis, or at all; that additional drilling may not intersect additional gold mineralization and uncertainty as to timely availability of permits and other governmental approvals.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and Cadillac disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law
To view the press release as a PDF file, please click on the following link:
Source: Cadillac Mining Corporation (TSX-V: CQX) www.cadillacmining.com
Maximum News Dissemination by FSCwire. www.fscwire.com