VANCOUVER, BC -- (Marketwire) -- 08/29/08 -- Sacre-Coeur Minerals, Ltd. (TSX-V: SCM)
(FRANKFURT: SSN) (the "Company") is pleased to announce the closing of its
previously announced non-brokered private placement which has now raised
gross proceeds of CAD $1,550,000. Under the terms of the private placement,
the Company has issued 1,000,000 Units (the "Units") at CAD $1.55 per Unit
to one single institutional investor.
Each Unit consists of one common share of the Company and one-half of one
share purchase warrant (the "Warrants"). Each whole Warrant entitles the
subscriber to purchase one additional common share of the Company at an
exercise price of CAD $1.75 until August 29, 2010. The Units are subject to
a 4-month hold period expiring December 30, 2008.
The Company has paid cash finders' fees of CAD $100,000, representing 6.45%
of the aggregate proceeds of the offering.
According to Irwin Olian, CEO of the Company, "We are gratified for the
continued support of our strong investor base, even in this rather
difficult financial environment. These additional funds will now ensure
that we will be able to carry out all of our anticipate exploration
programs for the next 18 months on our portfolio."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development of
properties for the potential mining of gold, metals and diamonds in South
America, initially focussing on exploration for gold on its properties in
Guyana. The Company presently has an interest in approximately 850 square
miles of mineral properties in Guyana, including the Million Mountain
Property. The Company has offices in Vancouver, Canada and Georgetown,
Guyana. More information about the Company is available at
www.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein. The statements made in this press release may
contain certain forward-looking statements that involve a number of risks
and uncertainties. Actual events or results may differ from the Company's
expectations.
Distributed by Filing Services Canada and retransmitted by Marketwire
For further information, contact:
Irwin Olian
President and CEO
Email: Email Contact
Phone: (604) 899-0100
Fax: (604) 899-0200
Lee Dunston
Corporate Communications
Email: Email Contact
Phone: (604) 899-0100
Fax: (604) 899-0200
Sacre-Coeur Minerals, Ltd
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, B.C.
V6B 4N8