Sunset Cove Announces Non-Brokered Private Placement of up to $500,000
August 30 2012 - 6:01AM
PR Newswire (Canada)
TORONTO, Aug. 30, 2012 /CNW Telbec/ - Sunset Cove Mining (BVL: SSM)
("SUNSET COVE" or the "Corporation"), announces that it will be
proceeding with a non-brokered private placement of up to $500,000
comprised of up to 4,761,905 units at a price of CAD $0.105 per
unit (the "Units"). Each Unit consists of one (1) common share and
one-half (1/2) share purchase warrant. One whole warrant
provides the holder with the right to purchase one (1) additional
share for $0.18 per Share. The warrants expire in 18 months from
the closing and are subject to an "Acceleration Right" in favor of
the Corporation. Should the shares of the Company close at $0.25 or
higher for five (5) consecutive days, the expiry of the warrants
will accelerate and expiry will be twenty (20) days from issuance
of a news release by the Corporation announcing the trigger of the
acceleration right. A finder's fee of 7% cash and 7% Finder's
Warrants will be paid to certain arm's length parties. The Finder
Warrants expire eighteen (18) months from the closing. The
Finder's Warrants are not subject to the Acceleration Right. It is
anticipated that management and directors will be participating in
this private placement. The capital raised will be used for
general working capital for the Corporation's operations in Peru
and Canada. Forward-Looking Statements Some of the statements
contained herein may be forward-looking statements that involve
known and unknown risks and uncertainties. Results presented in
this press release are exploratory in nature. Historical data, if
mentioned, should not be relied upon, as they are not admissible
under NI 43-101 rules and the Company has not conducted sufficient
testing to verify this type of information. Without
limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of
the Company are forward-looking statements that involve various
degrees of risk. The following are important factors that could
cause the Company's actual results to differ materially from those
expressed or implied by such forward-looking statements: changes in
the world-wide price of mineral commodities, general market
conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the
uncertainty of future profitability, and the uncertainty of access
to additional capital. Sunset Cove disclaims any obligation to
update any such forward-looking statements. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. SUNSET
COVE MINING INC. CONTACT: Lorne WoodsPresidentSunset Cove
Mining(877) 234-0692; ext
250lwoods@sunsetcovemining.comwww.sunsetcovemining.com
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