TORONTO, Jan. 16, 2013 /CNW Telbec/ - Sunset Cove Mining Inc. (TSXV:
SSM) (BVL: SSM) ("SUNSET COVE" or the "Corporation"), announces that it
will be proceeding with a non-brokered private placement of up to
$1,000,000 comprised of up to 14,285,714 units at a price of $0.07 per
unit (the "Units").
Each Unit consists of one (1) common share ("Share") and one common
share purchase warrant ("Warrant"). Each Warrant provides the holder
with the right to purchase one (1) additional Share for $0.09 per
Share. The Warrants expire eighteen (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 $0.12 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
"With a first closing anticipated with a group of high net worth investors in Lima, Sunset is growing its
shareholder base in Peru," said Lorne Woods President and CEO.
A finder's fee to established 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
The capital raised will be used for general working capital for the
Corporation's operations in Peru and Canada. One or more closings may
occur up to January 31, 2013, or at such other date which may be agreed
upon and subject to the approval of the TSX Venture Exchange.
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.
SOURCE: SUNSET COVE MINING INC.
For further information:
Sunset Cove Mining
(877) 234-0692; ext 250