Candente Resource Corp.: Financing Closed.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Candente Resource Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DNT DNT Document & Network Technologies DNT Dinitrotoluene DNT Dynamic Network Technologies DNT Do Not Type DNT Dodonu Ni Taukei Party (Fiji political party) DNT Do Not Touch DNT Dialed Number Trigger DNT Do Not Translate ) ("Candente"/the "Company") is pleased to announce it has closed the previously announced non-brokered private placement of 7,450,000 shares at a price of $0.50 per share for gross proceeds of Cdn$3,725,000 to seven institutional placees. The common shares issued in this placement are subject to a four-month hold period expiring August 23, 2005 and no warrants have been attached. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the private placement will be used for funding exploration and development activities on the Company's mineral properties and for general corporate purposes. In consideration of introductions made to two of the placees, Meridian Capital International Inc. will receive a commission in the amount Cdn$173,250 and 300,000 share purchase warrants. The commission is 7% of proceeds from the two placees and the warrants are equal to 6% of the number of the shares sold to the two placees. Each warrant entitles the holder to purchase one common share of Candente at a price of $0.70 for a period of eighteen months until October 22, 2006. In addition, the Company has reimbursed Meridian for its reasonable out-of-pocket expenses out-of-pocket expenses n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. in connection with the private placement. If the warrants are exercised within the first four-month hold period of the term, the shares issued upon exercise will be subject to a hold period expiring August 23, 2005. Candente is a diversified copper and gold exploration company. Our focus is to increase shareholder value through discovery. Candente has an advanced exploration stage copper project, Canariaco, and several other gold and gold-copper projects in Peru and Newfoundland. Candente's directors have individual track records in both the discovery and development of multi-million ounce gold and silver, and multi-billion pound copper deposits. Candente subscribes to principles, which ensure that its exploration and development activities are beneficial to the local communities. ON BEHALF OF THE BOARD OF DIRECTORS Joanne Freeze, P. Geo., President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Candente Resource Corp. Release No. 130 This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The securities have not been and will not be registered under the United States Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and the applicable state securities laws or an exemption from such registration is available. This News Release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. protection for forward-looking statements. Candente Resource Corp. (TSX:DNT) |
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