Shares outstanding: 271 Million
Symbol & Exchange: BN-TSXV
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, April 2 /CNW Telbec/ - Blue Note Mining Inc. (the "Company")
has priced its previously announced private placement of units (the
"Offering"). The Offering will initially close on $17.6 million of Units and
forms part of an offering of up to $30 million of Units which may be offered
until Closing. The Offering is being made to investors resident in Canada and
certain other jurisdictions (other than the United States) through a syndicate
led by TD Securities Inc. and including Octagon Capital Corporation. In
addition, the agents have been granted an option to purchase up to 15% of the
number of the units offered to cover over allotments. The final closing of the
Offering is expected to occur on or about April 26, 2007 and is subject to the
receipt of all required approvals.
Each unit is being offered at C$1000 and consists of a secured note in
the principal amount of $1,000, bearing a coupon of 11%, payable semi-annually
in arrears, and 150 common shares of the Company.
Net proceeds of the Offering will be used for expenditures relating to
ongoing mining development and maintenance of the Caribou and Restigouche
mines and for general and operating working capital purposes.
Blue Note Mining is a mineral exploration and mine development company
with properties in New Brunswick. The company's shares trade on the TSX
Venture Exchange under the symbol BN.
This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that involve
risks and uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by government
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products and
competitive pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Lorne Woods, Vice President, Investor
Relations, Blue Note Mining, 800-937-3095, firstname.lastname@example.org;