Cadillac Ventures Inc. (TSXV:CDC) announced a private placement of 20,000,000 units at CAD 0.06 per unit for gross proceeds of CAD 1,200,000 on March 1, 2013. The transaction will see participation from Sino-Canada natural Resources Equity Fund I, managed by CapitalAsia. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at CAD 0.10 per share for 30 months following ... closing. The investor will own approximately 12.1% on the completion of the transaction. The investor will have the right to nominate one director to the board of directors of the company. On April 22, 2013, the company announced that the funds were being held by McMillan LLP, an escrow agent pending the closing of the transaction. The closing of the transaction has been delayed pending clearance from the TSX venture exchange, which is likely to take a few more weeks. On closing, the investor will become an insider of the company. The company will pay finder's fees in cash and through non transferable warrants.
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Cadillac Ventures Inc. (TSXV:CDC) announced a private placement of 8,333,333 units at CAD 0.06 per unit with existing investor, Urion Mining International B.V. for gross proceeds of CAD 500,000 on February 8, 2013. Each unit will consist of one common share and one share purchase warrant. Each warrant will be exercisable at a price of CAD 0.10 for a period of 30 months from issuance. The securities will be subject to hold period of four months. The transaction is subject ... to approval form TSX Venture Exchange.
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Renforth Resources Inc. entered into an agreement to acquire New Alger property from Cadillac Ventures Inc. (TSXV:CDC) for CAD 0.58 million in cash and stock on January 28, 2013. According to the agreement, Renforth will pay CAD 0.02 million in cash and issue 2 million shares valued at CAD 0.05 at the time of signing the agreement, will pay CAD 0.21 million cash by June 15, 2013 and CAD 0.25 million cash by November 15, 2013. Upon satisfaction of the foregoing conditions, ... Renforth will acquire a 100% interest in the property; subject to an existing 1% net smelter return royalty and Cadillac will retain an additional 1% net smelter return royalty. The deal is subject to approval of the Board of Directors of each of Renforth and Cadillac.
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