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Additional Information
Market: TSX-V
Sector: General Mining - Copper
EPIC: CDC
Latest Price: C$0.15  (0,00%)
52-week High: C$0.25
52-week Low: C$0.14
Market Cap: C$18.66M
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Cadillac Ventures
www.cadillacventures.com

Exploration activities in Cadillac's property portfolio range from the grass roots stage to resource development projects and are not limited by geographical boundaries. The company holds the right to earn up to 90% interest on 14 separate properties within the prolific Iberian Pyrite Belt of southern Spain and two advanced Canadian projects; the New Alger property which is a gold project in Quebec and Burnt Hill, a tungsten project in New Brunswick.

Full Cadillac Ventures profile here
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Cadillac Ventures closes private placement financing for $5.6m

1st Dec 2010, 8:38 am

Cadillac Ventures (TSX-V:CDC) said Tuesday it has closed the first tranche of its previously announced private placement financing, for gross proceeds of $5.6 million.

The placement, led by Industrial Alliance Securities, consisted of the sale of 14.4 million flow-through units at a price of $0.32 per flow-through unit, for proceeds of $4.6 million.

Each flow-through unit comprised one common share issued on a flow-through basis and one half of one common share purchase warrant, with each whole warrant good for one non-flow through common share at a price of $0.45 for 24 months from closing.

Additionally, existing shareholder Urion Mining International subscribed for 3.6 million units of the company at a price of $0.28 per unit for proceeds of around $1.0 million.

Each non flow through unit consisted of one common share and one-half of one warrant, with each whole warrant exercisable for an additional common share at a price of $0.40 for a period of 24 months following closing.

Urion's purchase allowed it to maintain its approximate 25% equity interest in the company, Cadillac said.

The new funds will be used for exploration and development of the company's Ontario properties and for general working capital purposes.

Cadillac owns the past-producing Thierry Property near Pickle Lake in Northern Ontario, several exploration projects in Spain in joint venture with MATSA and three other Canadian exploration projects, including the Burnt Hill tungsten tin project in New Brunswick and the New Alger project in Quebec.

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