Cream Minerals Announces $1.5 Million Brokered Private Placement Financing.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 8, 2004 Cream Minerals Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CRMXF)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: CMA CMA - Concert Multithread Architecture from DEC. ) ("Cream Minerals") is pleased to announce that it has entered into an agreement with Canaccord Capital Corporation ("Canaccord") by which Canaccord has agreed to act as agent on a commercially reasonable efforts basis to carry out a private placement of up to 2,307,692 units (the "Units") at a price of $0.65 per Unit, for gross proceeds of up to $1,500,000. Each Unit is comprised of one common share in the capital of Cream Minerals and one-half of one non-transferable share purchase warrant. One whole share purchase warrant will entitle the holder to purchase one additional common share of Cream Minerals for a period of one year from closing of this private placement, at an exercise price of $0.75 per common share. Upon closing of this private placement, Canaccord will receive a commission of 8% in cash, of which Canaccord may elect to be paid up to one-half in Units. Canaccord will receive 20% in non-transferable Agent's Warrants exercisable for a period of one year from closing at an exercise price of $0.75 and will also receive a cash administration fee and a corporate finance fee in shares of Cream Minerals. All shares, warrants and any shares issued upon exercise of the warrants with respect to the private placement and Canaccord's compensation are subject to a hold period and may not be traded for four months from closing, except as permitted by the 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 Securities Act and the Rules made thereunder and the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Proceeds from the private placement will be used for the further exploration on the Company's Nuevo Milenio project in Mexico and for general working capital. For more information about Cream Minerals Ltd. and its projects please visit the following websites, http://www.sedar.com/ and Cream Minerals' website http://www.creamminerals.com/. Frank A. Lang, P. Eng P. ENG Professional Engineer P. ENG process engineer , President and 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. U.S 20-F Registration No regulatory authority has approved or disapproved the information contained in this news release. |
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