Thursday, 6 September 2012

Sacre-Coeur Minerals announces $0.5 mln brokered financing

Vancouver-based Sacre-Coeur Minerals (CVE:SCM) announced late yesterday a brokered offering for proceeds of up to $0.5 million. 
The company has engaged Canaccord Genuity to sell up to 4.17 million units at a price of 12 Canadian cents each. 
The units will be comprised of one common share of the company and one-half of one share purchase warrant. 
Each whole warrant will allow the subscriber to purchase one additional share for a period of two years from the date of closing at a price of 18 cents. 
Sacre-Coeur said it has also granted Canaccord the option to offer up to an additional 2.08 million units of the company, for up to another $0.25 million. This option can be taken up in whole or in part at any time up to 48 hours prior to the closing date. 
The offering is expected to close around September 28, subject to TSX Venture Exchange approval. 
The company said the new funds will be used for working capital purposes. 
Sacre-Coeur is exploring for gold, metals and diamonds in South America, initially focused on exploration and production of gold from its properties in Guyana. 
The company currently holds a 100 per cent interest in approximately 850 square kilometres of mineral properties in Guyana, including the Million Mountain property which hosts an NI 43-101 compliant hard-rock resource of 12,119,285 tonnes grading 1.0 grams per tonne gold  measured, and 2,175,278 tonnes grading 0.9 g/t gold indicated.

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