/NOT FOR DISTRIBUTION TO UNITED
STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES./
VANCOUVER,
March 7, 2014 /CNW/ - Cayden
Resources Inc. (TSX.V:CYD) (OTCQX: CDKNF) ("Cayden" or
the "Company") is pleased to announce that it has amended the terms
of its previously announced bought deal offering of common shares
of the Company (the "Common Shares") to increase the size of the
offering to $7,837,000 (the
"Offering"). Under the amended terms of the Offering, a syndicate
of underwriters led by Beacon Securities Limited, including and
Canaccord Genuity Corp. (together, the "Underwriters") have agreed
to purchase, on a bought deal basis pursuant to the filing of a
short form prospectus, an aggregate of 4,610,000 Common Shares at a
price of $1.70 per Common Share (the
"Offering Price").
The Company has agreed to grant the Underwriters
an over-allotment option to purchase up to an additional 691,500
Common Shares at the Offering Price, exercisable in whole or in
part, at any time on or prior to the date that is 30 days following
the closing of the Offering. If this option is exercised in full,
an additional $1,175,550 will be
raised pursuant to the Offering and the aggregate gross proceeds of
the Offering will be $9,012,550.
The Underwriters will receive a cash commission
of 7% of the gross proceeds raised, and common share purchase
warrants entitling the Underwriters to purchase within 24 months
after closing of the Offering, common shares of the Company equal
to 3% of the aggregate number of securities sold pursuant to the
Offering at the Offering Price per Common Share.
The Company intends to use the net proceeds from the Offering
for exploration and development of its mineral interests in
Mexico and for general corporate
and working capital purposes.
The Common Shares will be offered by way of a
short form prospectus to be filed in all of the provinces of
Canada (excluding Quebec). Closing of the Offering is
anticipated to occur on or before April 1,
2014 and is subject to certain conditions including, but not
limited to the receipt of applicable regulatory approvals including
approval of the TSX Venture Exchange.
On Behalf of the Board, Ivan Bebek, President and CEO
About Cayden Resources - Cayden is a
junior mining company focused on delivering shareholder value
through the acquisition, exploration and development of precious
metal projects in Mexico. The
management team at Cayden is highly experienced with an impressive
track record of success in the discovery, development and financing
of mineral projects. Cayden is also strongly committed to the
highest standards for environmental management, social
responsibility, health and safety for its employees and neighboring
communities. Cayden trades on the TSX Venture Exchange under the
symbol "CYD" and "CDKNF" on the OTCQX.
For more information on
Cayden Resources, please visit our website at
www.caydenresources.com.
Forward Looking and other Cautionary
Information - Neither the TSX Venture Exchange nor any other
regulatory authority accepts responsibility for the adequacy or
accuracy of this release.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the Common Shares in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The Common Shares
have not been and will not be registered under the United States
Securities 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, or for
the benefit of, U.S. persons (as defined in Regulation S under the
U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws or pursuant to an
exemption from such registration requirements. Any public offering
of securities in the United States
must be made by means of a prospectus containing detailed
information about the company and management, as well as financial
statements.
This press release includes certain
forward-looking information as defined in applicable securities law
(referred to herein as "forward-looking statements"). Specifically,
this press release contains forward-looking statements regarding
the completion of the Offering and the use of proceeds of the
Offering. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause actual
results, performance or achievements of the Company to be
materially different (either positively or negatively) from any
future results, performance or achievements expressed or implied by
such forward-looking statements. These risks, uncertainties and
other factors include, but are not limited to, volatility of the
price of gold, changes in debt and equity markets, general economic
conditions, environmental compliance and changes in legislation and
regulation, interest and exchange rate fluctuations, and other
risks involved in the gold exploration industry. Investors
should review the Company's AIF which is available at
www.sedar.com.
Such forward-looking statements are also based
on a number of assumptions which may prove to be incorrect,
including, but not limited to, assumptions about the following: the
availability of financing for exploration and development
activities; operating and capital costs; the Company's ability to
attract and retain skilled staff; sensitivity to metal prices and
other sensitivities; the supply and demand for, and the level and
volatility of the price of , gold; exchange rates, market
competition; timing and receipt of regulatory approvals; ongoing
relations with employees and general business and economic
conditions. Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking statements
contained herein are made as of the date hereof, or such other date
or dates specified in such statements. The Company undertakes no
obligation to update publicly or otherwise revise any
forward-looking statements contained herein whether as a result of
new information or future events or otherwise, except as required
by law. If the Company does update one or more forward-looking
statements, no inference should be drawn that is will make
additional updates with respect to those or other forward-looking
statements.
SOURCE Cayden Resources Inc.